Bit of action in the JGB world with the spread between 10 and 20-year bonds at a 13 year high. This is on the back of worries that the Japanese parliament will struggle to pass budget-funding laws.
Heavy offers above 80.00 have been soaked up be more relentless waves of buying from big macro funds but I’ll stick to my earlier call, that selling rallies once everyone is really really long, is the best strategy here.