The iTraxx Japan Series 17 faces mild tightening pressure, trading at 211, 210, 208, 209 bps vs Wednesday's 209.5 bps, a Tokyo CDS trader says; "the index stayed at relatively wide levels." He adds, "some bets are just being unwound since there has been no fresh buying. It's costly to maintain short positions." Japan USD-denominated sovereign CDS trade at 107 bps, unchanged from Wednesday.
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