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There has been a decent bid in JGBs from the...>

JGBS
JGBS: There has been a decent bid in JGBs from the off, with little in the way
of catalysts observed, they are perhaps playing a bit of catch up to the move in
Tsys overnight, while the lack of adjustment in the BoJ's latest Rinban auction
& the results of yesterday's 30-Year supply also augur well for bulls.
- The cash curve sits a touch flatter on the session.
- The JGB future has established support at 150.06, opening the way for a
near-term corrective rebound within the overall bearish structure. The contract
has moved above 150.17, which gives potential for recovery to extend towards
150.24 and 150.27, which represents a 50% retracement of the recent sharp
decline. Failure below retains the overall bearish technical picture.
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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