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The JGB curve underwent some modest............>

JGBS
JGBS: The JGB curve underwent some modest bear-steepening on Tuesday.
- The latest 10-Year JGB auction cleared smoothly, but sellers continued to win
the battle, particularly in the super-long end, suggesting that some are
concerned over the elevated prices in the space.
- The Nikkei finished higher, which added further weight to the space.
- Focus today will fall on the BoJ's Rinban operations covering the 1-10 Year
buckets.
- Barclays believe that "today could see the JGB market continue to meet upside
resistance overall amid the selling in US and European bonds overnight."
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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