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Steepening Extends A Touch On Global Matters, Futures Soften Further, But Off Lows

JGBS

The early steepening move extended as the Tokyo morning wore on, with the previously outlined, albeit modest, deceleration in new COVID cases found in China applying some pressure to core global FI markets.

  • That leaves the major JGB benchmarks running little changed to 2.5bp cheaper across the curve. JGB futures built on their overnight downtick, before recovering from worst levels, hitting the lunch bell -23. There wasn’t much in the way of local news flow to note outside of that flagged in our previous update.
  • 2-Year JGB supply is due this afternoon.
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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