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JGB futures have pushed lower in line with.....>

JGBS
JGBS: JGB futures have pushed lower in line with US price action albeit on a
more muted scale, with the 10-year note close to session lows at 105.72. 
- Breakevens rose for the second consecutive day with the 10-year at 0.589, a
monthly high, spurred by a 2% gain in Japanese bank stocks hinting at emerging
reflation pressures. 
- The Japanese Ministry of Finance (MOF) sold Y132.5bln of 30-Year JGBs at an
average Yield of 0.746% and a Bid/Cover of 4.41.
- Focus will turn to the release of US retail sales ahead of Japan's preliminary
Q1 GDP release tomorrow, where close attention will be paid to the deflator. 

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