Japanese 10 year bond futures are lower on.....>

JGBS: Japanese 10 year bond futures are lower on the day amid a bearish reversal

which has seen prices fall as much as half a point after hitting as high as

152.84 in early trading before dropping back to 152.34 last. 10year cash yields

sit at 3.7bps after recovering from session lows 0.9bps.

- The bullish reversal in yields is occurring despite a drop in 10year

breakevens which are looking to post their 13th consecutive decline. 10 year

real yields have extended gains to their highest level since mid 2017, last at

-27bps. 

- US-Japan 10 year spread has risen back from session lows, last at 278.1bps.