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The super-long end of the curve has caught.....>

JGBS
JGBS: The super-long end of the curve has caught up with the underperformance in
the belly that was seen in early trade, after the government approved a record
budget spending plan of Y102.7tn for the coming fiscal year, with general bond
issuance being reduced for a 10th straight year, although 40-Year JGB issuance
has been nudged up to Y3.00tn for the FY .
- Do note that these figures are in line with was reported by various media
outlets earlier this week.
- Futures last down 24 ticks, hovering just above session lows.
- There was no real impact from the monthly CPI data, with the prints virtually
in line with exp.
- Eyes on the liquidity enhancement auction for 5-15.5 Year off the run JGBs.
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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