JGBs up on short-covering as stocks fall, yen rises

Posted by 7Star Monday, January 25, 2010

Lead 10-year Japanese government bond futures rose on Friday on a flurry of short-covering, as share prices slid and the yen surged on jitters over US proposals to limit financial risk-taking. The lead March JGB futures contract touched a three-week high, with traders citing position unwinding, including the buying back of futures sold for hedging purposes.

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