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Tight Morning, Curve Marginally Steeper Ahead Of 20-Year Supply

JGBS

JGB futures stuck to a narrow range this morning, hitting the bell +3. The cash JGB curve twist steepened during the Tokyo morning, with the front end to belly richening by up to 1.0bp, while super long paper sits flat to marginally cheaper on the day. The long end was likely hampered by the proximity to this afternoon's 20-Year JGB auction. Speculation surrounding taxation matters and the impending fiscal stimulus package continue to do the rounds.

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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