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The JGB 10-Year opened Tokyo at 150.44 and.....>

JGBS
JGBS: The JGB 10-Year opened Tokyo at 150.44 and was last down at 150.38 after
BOJ purchase operation announcements remained unchanged but with very heavy
cover, the cover on the 3-5 and the 5-10 was the highest its been for a year.
The week ahead sees a 5-Year auction on Thursday so the cover may be due to
setting up for that. 
- Yields are up across the curve, more give on the long end as analysts predict
strong demand for the 20-Year auction tomorrow. The 10-Year yield last up 0.1bp.
- Japanese stocks reached 2 decade highs again on the Tokyo session on
geo-political tensions in the N. Korea crisis and Iraqi advances, this supports
a decline in JGB's.

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