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The Tokyo morning provided another tight.......>

JGBS
JGBS: The Tokyo morning provided another tight session for JGB futures, with
little in the way of news flow apparent outside of the BoJ leaving the size of
its 1-5 & 10-25+ Year JGB Rinban operations unchanged.
- Offer to cover ratios of the operations were as follows:
- 1-3 Year 2.75x (prev. 2.73x), 3-5 Year 2.92x (prev. 1.32x), 10-25 Year 2.60x
(prev. 3.94x), 25+ Year 4.71x (prev. 3.60x)
- Futures have tested familiar resistance levels again.
- Yields trade unchanged to a touch lower across the curve.
- The Nikkei 225 finished the morning session 1.8% higher in the wake of a
positive session for U.S. equity indices on Friday, with the JPY modestly
underperforming among G10 FX.
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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