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The JGB 10-Year opened Tokyo at 150.53, down...>

JGBS: The JGB 10-Year opened Tokyo at 150.53, down from yesterdays close,
yesterday's Tokyo session saw weekly highs, the 10-Year JGB dipped lower to
150.49 after Japan September Official Reserve Assets came in slightly lower,
$1266.3bln from $1268bln prior. On the overnight the JGB 10-Year moved parallel
to U.S Tsy's dipping after lower-than-expected 260K initial weekly jobless
claims & firm 1.2% Aug. factory new orders. Tsys hurt amid SF Fed Williams'
caution that US real estate and bond prices near all-time highs amid low US
rates; Phil Fed Harker: US is at "maximum employment" (Bloomberg).
- Barclays Opening Call: Today could see the JGB market reverse course with
sellers taking the upper hand around the superlong end ahead of next Wednesday's
30y auction after USTs sold off overnight. The BoJ will conduct buying
operations for 5-10y and 10y+ issues, and likely for JGBi as well.
- As above predicted, more give on the long and super long end... The 10-Year
yield last down 0.9bp, 3-Year up 0.2bp.

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