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The Japanese Ministry of Finance.......>

JGBS AUCTION
JGBS AUCTION: The Japanese Ministry of Finance (MOF) will today sell Y2.2tln of
2-Year JGB's. 
- The MOF last sold 2-Year debt on December 26, the auction drew cover of 4.319
at an average yield of -0.136%, average price of 100.474, a high yield of
-0.1310%, low price of 100.465.
- In the grey market the issue currently yields -0.122%. Some weakness in global
bonds today has seen yields add further concession today, up 0.4bp in the sector
after a modest set up yesterday.
- The auction is expected to be taken down smoothly, the sector still appears
fairly cheap on the curve, the Z-score at -0.11 is in the middle of its 3-month
range. However the tightening in the 2-Year USD/JPY basis swaps could impact
foreign takedown of the auction.
- Results due at 0345GMT/1245JST.

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