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JGB futures trade broadly flat around the......>

JGBS
JGBS: JGB futures trade broadly flat around the 151.10 level having failed to
take out the Nov 20 highs earlier today. 10-year yields are up 0.1bps at 9.1bps,
remaining clear of yesterday's lows but showing no real sign of a reversal. 
- US-Japan 10-year spread trades 296.5bps showing little action with yesterday's
recovery efforts lacking conviction.
- The drop in oil prices has had very little impact on Japanese breakevens which
continue to trade off cycle lows. This has seen 10-year real yields drop in
contrast to most developed markets.
- The US-Japan 10-year real spread is testing cycle highs at146.7bps.  

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