JGB's opened Tokyo up and continued on the.....>

JGBS: JGB's opened Tokyo up and continued on the ascent up to the release of

minutes from the BOJ where most members agreed it's vital for Japan to reach 2%

inflation target, few agreed CPI won't reach 2% during the projection period and

one disagreed with 2% target completely saying 2% goal is a constraint on

monetary policy and the level makes it hard to normalise monetary policy. The

10-Year JGB hit 150.92 during the session to come down 14 ticks post auction

results to 150.78 and currently at 150.80. 

- The auction brought in a lower than forecasted high yield of 1.0150 and a

coverage of 3.24x slightly up from a previous cover of 3.2x. 1.4525% of bids

were accepted at their lowest price. Note the auction method was a

Dutch-style-yield-competitive auction at intervals of 0.5bp. 

- JGB yields are currently mixed, down on the short end and up on the long end,

the 10-Year is up 0.7bp.