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JGB futures trade just off daily highs at......>

JGBS
JGBS: JGB futures trade just off daily highs at 151.14 level as the Nov 20 highs
at 151.18 approach amid the continued strong uptrend. 10-year cash yields are
flat on the day at 9bps, remaining clear of yesterday's lows but showing no real
sign of a reversal. 
- US-Japan 10-year spread trades 296.2bps edging further down from yesterday's
highs.
- The drop in oil prices has had very little impact on Japanese breakevens which
partly explains why 10-year real yields have fallen of late in contrast to most
developed markets. 
- The US-Japan 10-year real spread is testing cycle highs at146.4bps.

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