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Softer On Offshore Matters

JGBS

JGB futures sit 17 ticks below settlement, just off worst levels, after bears failed to force a challenge of trend support at 151.75. 7s and 40s were the weak points on the cash curve, with the former likely linked to weakness in futures, while the longer end weakness would fall in line with the steepening pressure witnessed in U.S. Tsys on Thursday. The Japanese swaps curve also steepened. There was nothing of local note to drive the space, with no real impetus coming from the flash PMI and national CPI readings.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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