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JGB futures have resumed trading on a strong...>

JGBS: JGB futures have resumed trading on a strong note with the 10-year future
rising to 150.06 back in the middle of its two-week range. The Oct 4 low remains
intact at 149.95 and a break below this level is needed to extend the selloff
from the Aug 3 crash lows. 
-  Cash yields have opened a tick below Friday's close at0.154% as the bullish
trend remains intact following the hold above 0.140 on Friday, which keeps the
August 2 high support level intact. 
- The 2s-10s curve trades flat at 26.20bp, its highest level since April 2017,
helped by the recent steepening in the US curve. 
- The US-Japan 10-year spread sits at cycle highs of 307.7bps, despite the rise
in JGB yields being much sharper in volatility-adjusted terms.  

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