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The space has seen a lack of activity in.......>

JGBS
JGBS: The space has seen a lack of activity in recent trading with a lack of
local news events keeping the 10 year locked in a tight range at 150.29-150.40,
currently trading in the middle of that range at 150.34. 
- Bulls need to break above the upper bound to test the 21-DMA, currently at
150.45, and shift the focus back to the July 31 highs at 150.80.
- 10-year breakevens hit a new cycle low of 0.399% yesterday, having fallen
20bps since the start of the year, providing strong fundamental support to bonds
as real yields rise.
- There are no bond auctions, rinban operations, or BoJ speakers due today,
suggesting that bonds will be driven by headline risk surrounding EM FX. 

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