JGBs are mostly flat on news that U.S. President Barack Obama has been re-elected. "No one in Tokyo was betting that Romney was going to win, so the result is basically one more market event out of the way for JGB market participants," says Mari Iwashita, bond strategist at SMBC Nikko Securities. For the rest of the week she says that market participants will be focused on a 40-year bond auction on Thursday and China's congress that will start the transition in the country's leadership. The benchmark 10-year yield is currently up 0.5 bp at 0.760%, and lead December JGB futures are up 0.02 at 144.32.
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