The 10-Year JGB was last at 150.44 after.......>

JGBS: The 10-Year JGB was last at 150.44 after opening Tokyo at 150.48. The JGB

saw mild downside at the start of the Tokyo session as the Nikkei moved higher

when Sony's earnings report came in, eventually sending Sony's share price to a

9 year record high. USDJPY increased when Tokyo News Outlet Kyodo reported

Japanese Prime Minister Abe is going to order an extra budget meeting. The

10-Year JGB gapped higher ahead of the results from the auction of 3-Month bills

and 10-Year bonds then further declined. 

- The auction of Y2.3tln was met with highest bid/cover since July at 4.55x,

prior auction of 10-Years met with a demand of just 4.08x, the bond tail fell to

zero for the first time since 2002 with a price of 100.37. High yield was 0.062%

from prior 0.082% on the same maturity.

- Relatively flat on the overnight for the 10-Year moving within a 5 ticks range

as Tsys traded in low volumes on month end and investors await Wednesday's FOMC

policy meeting, Thursday's BOE MPM and Friday's Payrolls. 

- 10-Year yield last down 0.7bp at 0.062.