JGB yields edged higher across the curve on....>

JGBS: JGB yields edged higher across the curve on Thursday, as the uptick in

equities & weaker JPY allowed sellers to impose themselves in the morning

session, heading in to 2-Year JGB supply. The auction passed smoothly, but JGBs

continued to operate in negative territory. 3-month TIBOR fixed higher for the

first time in 2-months, jumping by 1.7bp. US Tsys bull-flattened in Thursday, as

the US 2-/10-Year spread ground to multi-year flats.

- Barclays suggest that with "the US Tsy curve bull-flattening overnight, today

could see buyers take a slight upper hand around the super-long end on month-end

extension activity despite meeting upside resistance on concern about already

elevated levels. The BoJ is scheduled to hold buying operations for 1-5y and

5-10y issues. In its buying operation plans for April, to be released in the

evening, we believe the BoJ is likely to leave its purchasing ranges unchanged

from March across all sectors. Although the BoJ's next action may be to decrease

rather than to increase given that yields are near the lower bound of their

range, we do not see a strong need for it to revise its purchasing ranges this

time around."