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JGBs quiet in holiday-driven trade

Short-term Japanese government bond prices edged slightly down on Monday after the Bank of Japan trimmed its buying in the three- to five-year zone, while the overall mood was languid in thin trading ahead of holidays.

The benchmark 10-year cash JGB was untraded, while 10-year JGB futures ended flat at 151.02.

Tokyo markets will be closed for three days from Wednesday for a string of holidays known as Golden Week. Several markets across Asia and Europe are also shut on Monday for holiday. The BOJ offered to buy 300 billion yen (£2.08 billion) of JGBs with three to five years left to maturity in its regular buying operations. This is down from 320 billion yen (£2.21 billion) it offered to buy in its previous operation.

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