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Tepid Demand At Auction

JGBS

Not the firmest round of 30-Year supply there, with local participants likely eying the allure of offshore paper in the early part of the new Japanese FY, although the low price managed to top dealer expectations (100.15 per the BBG dealer poll), while the tail narrowed and cover ratio firmed. Still, the latter continued to operate in the lower confines of the recently observed range, with the March auction providing a particularly low comparative bar.

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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