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Japan 10-year futures are down 17 ticks from...>

JGBS
JGBS: Japan 10-year futures are down 17 ticks from yesterday's highs last at
151.19. A close here on the week would set up a potential bearish reversal on
the daily chart. 10-year cash yields deal at 8.3bps, holding below recent range
lows but still ahead of the 200-dma. Today's miss in Toyko headline CPI which
came in at 0.8%y/y vs exp. of 1.1% failing to sustain recent declines in yields.
- Breakevens have bounced off the 40bps level has they have over recent months,
in line with the recovery in oil prices and equities. 
- US-Japan 10-year spread sits at 294.4bps after recovering yesterday's drop
caused by the decline in US yields.  

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