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Twist Flattening Extends

JGBS

The twist flattening of the curve continued during the remainder of the Tokyo morning as the momentum derived from the BoJ’s Rinban plan tweak (delivered after Tokyo hours on Friday) extended.

  • That left the major JGB benchmarks 0.5bp cheaper to ~6bp richer at the lunch break, with 20s outperforming and the pivot moving forward to the 7-Year point. JGB futures ticked away from worst levels to hit the bell -3 vs. Friday’s settlement.
  • We didn’t get much in the way of meaningful Tokyo headline flow during the morning session.
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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