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Tepid Liquidity Enhancement Auction, No Market Reaction

JGBS

The latest liquidity enhancement auction covering off-the-run 1- to 5-Year JGBs saw firmer spread results than the previous offering, with the spread tail width remaining constant. However, the cover ratio eased below the 4.00x mark, suggesting that there was little in the way of widespread appetite at today’s auction. Benchmark 2- to 5-Year paper is unmoved post-supply.

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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