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Testing Key Levels

JGBS

JGB bears continued to test the 0.10% level in 10-Year JGB yields, with futures closing -11, after threatening, but ultimately failing to make a clean break below the June '20 lows. The aforementioned benchmark hasn't printed sustainably above the 0.10% level since H218. The belly underperformed in cash trade.

  • Japanese CPI data for January was virtually in line with expectations and wasn't as soft as the readings witnessed in December.
  • The latest round of 1-10 Year BoJ Rinban ops saw the purchase sizes left as they were, with the offer/cover ratios nudging lower.
  • 10-25+ Year BoJ Rinban ops and services PPI data headlines Monday's local docket.
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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