JGB yields edged higher to 20-Years out on.....>

JGBS: JGB yields edged higher to 20-Years out on Monday, with futures a touch

softer, as the space operated in sympathy with global risk appetite, although a

modest bid returned to the super-long end in afternoon dealing, allowing 30- &

40-Year paper to finish higher, continuing the recent trend, which has developed

owing to factors we have highlighted previously (and in a recent MNI Analysis

e-mail).

- BOJ Governor Kuroda took to the wires on Monday, maintaining his optimistic

growth and inflation outlook for Japan's economy.

- Participants now focus on today's 5-Year JGB supply.

- Bulls look to 151.02-19 where the 2018 & monthly highs are situated. Daily

studies looking to correct from modestly overbought levels and the lack of

topside follow through remain concerns for bulls. In saying that, bears still

need a close below 150.89 to signal a false break higher and return initial

focus to 150.71-80.