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Will The BoJ Step In?

JGBS

JGB futures followed the broader global core FI trend in overnight trade, shedding 33 ticks to trade at the lowest point seen since December 2018 (based on continuation charts).

  • The overnight move in core FI markets has some pointing to the potential for an unscheduled round of BoJ JGB purchases on Friday.
  • In terms of local news, Kyodo News suggested that the Japanese gov't will end a COVID state of emergency in 5 prefectures west of Tokyo at the end of Feb, which is a week ahead of schedule.
  • Tokyo CPI, the labour market report, retail sales and preliminary industrial production data headline the local docket on Friday. 2-Year JGB supply is also due. The BoJ will releases is March Rinban plan after hours.
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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