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The JGB curve twist steepened on Thursday,.....>

JGBS
JGBS: The JGB curve twist steepened on Thursday, after the latest JGBi auction
cleared smoothly, which supported prices in the afternoon session.
- BoJ Gov. Kuroda wouldn't be drawn to committing to a firm date whereby he
expects to achieve the 2.0% inflation target, as reminder the BoJ removed its
language re: achieving 2.0% inflation around FY19 at its most recent MonPol
decision.
- Focus today shifts to the latest batch of BoJ Rinban operations covering the
10-25+ Year buckets.
- Barclays suggest that "today could see buyers take the upper hand, led by the
long end, on expectations for BoJ buying operations after US Tsys bull-flattened
overnight. The BoJ is scheduled to hold buying operations for 10-Year issues and
we believe an operation for JGBi is also likely.
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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