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Tight Ranges Observed

JGBS

JGB futures lacked any real impetus through Friday's overnight highs and didn't manage to pierce last week's peak, going into the lunch break +3 vs. Tokyo settlement levels. Yields were marginally mixed across the curve, with little in the way of fresh news flow to add to the earlier points.

  • Receiving of super-long swaps seemingly supported the long end, resulting in some light twist flattening of the curve.
  • 10-25 Year BoJ Rinban ops saw the purchase size unchanged and internals virtually unchanged vs. the previous round of ops.
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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