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The JGB curve twist-flattened on Wednesday.....>

JGBS
JGBS: The JGB curve twist-flattened on Wednesday as the overnight decline in US
Tsys weighed in the morning session, although super-long paper outperformed. The
BoJ's 1-10 Year Rinban operations were soft, which added further pressure to the
area of the curve that was underperforming.
- Today focus will fall on the liquidity enhancement auction for 15.5-39 Year
JGB's.
- Barclays suggest that "today could see sellers initially take the upper hand
in the JGB market given the overnight rise in overseas yields. With super-long
yields continuing to fall, the liquidity enhancement auction for 15.5-39 Year
issues will be one focus."
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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