The JGB 10-Year future opened Tokyo at.........>

JGBS: The JGB 10-Year future opened Tokyo at 150.27 and has gained on the

session to 150.44, levels last seen the end of last week and recovering from

overnight losses. The gains were fed by buying flow early on in the session and

then the well covered 5-Year bond auction, cover was at 4.34x from 4.07x, strong

cover was predicted based on BOJ buying operation support seen earlier this week

where investors looked to be setting up for the 5-Year bond auction, Friday sees

operations in the 5-Year sector. 

- The 10-Year moved alongside Tsy's on the overnight, Tsys ended Wednesday lower

after choppy morning trade then quieter range with varied curve trades, front

end sales, 10Y futures sales, then some front end dip buying.

- Barclays said ahead of the auction that given that yields were above -0.10%,

the auction would attract a certain level of demand and that it did, all yields

currently still down above -0.10%, the 10-Year yield down -0.04%.