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The JGB curve steepened on Friday, with the....>

JGBS
JGBS: The JGB curve steepened on Friday, with the 20+ Year segment notably
underperforming.
- As a reminder, the BoJ trimmed the size of its purchases by Y30bn in its
latest round of Rinban operations, which covered 5-10 paper, leaving the size of
purchases in that bucket at Y450bn (prev. Y480bn). The offer to cover ratio in
the operations ticked up to 3.00x (prev. 2.56x), although the average spread
moved back into negative territory.
- Monthly trade data and the latest round of Rinban operations (covering the 1-5
Year area of the JGB curve) provide the highlights of today's domestic 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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