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JGB futures extend their surge off the YtD.....>

JGBS
JGBS: JGB futures extend their surge off the YtD low of 151.86 touched in the
wake of a tepid 5-Year auction. They sit at 152.38, +12 ticks vs. settlement.
- Worth noting that JGB futures had already faded in the lead-up to the
aforementioned auction, with a round of sales triggered upon the breach of
Monday's low. 
- No headline catalysts appear to be driving the move, but it evidently spills
over into the broader core FI space. 
- Participants watched 10-Year JGB yield today as it made a foray into positive
territory for the first time since March. It is now back below the zero level,
with a degree of twist flattening seen in cash yield curve.

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