Barclays write "while we expect JGB markets....>

JGBS: Barclays write "while we expect JGB markets to continue range-trading at

low levels in the near term, perceptions of a further slowdown risk in the

global economy would likely push 10-Year JGB yields into negative territory and

strengthen the bull-flattening pressure in the superlong end. The pullback in

expectations for normalization by the BoJ after this week's sharp downward

revision to its FY19 core CPI inflation forecast should also lend support to the

JGB market. We have already dropped our forecast for the BoJ to widen the

trading band around 10-Year yields in April and also see an increased risk to

our outlook for the BoJ to dismantle its negative interest rate policy in July."