The JGB 10-Year declined throughout............>

JGBS: The JGB 10-Year declined throughout yesterday's Asia-Pac session to end

the day at lows last seen mid-August, the 10-Year moved a total of 36 ticks

throughout the session, the decline began when BOJ purchases were announced with

heavy offers.. JGB's continued to decline coming into the overnight session

alongside US Tsy's which sold off on tax reform and rate lock hedges but the JGB

10-Year stabilised around 150 and on the open was at 150.44. The JGB 10-Year was

last at 150.25, down 14 ticks on the Asia session, evidently on the decline

through the Asia session after a weaker than previous 2-Year bond auction

despite strong predictions considering positive yields.

- JGB 2-Year Bond Auction cover was 4.1x from 4.97x previous and bids were down

more than a bln.

- Yields are all up, more giving on the longer end again at +3.9pts for the

40-Year and +2.8pts on the 10-Year.