Lead December JGB futures open slightly higher, maintaining last week's solid momentum and following gains in some U.S. Treasurys Friday; the contract is currently up 0.02 at 144.58. The JGB market is expected to play a tug-of-war this week between caution about high prices and the disadvantage of not holding JGBs, says Mitsubishi UFJ Morgan Stanley Securities senior strategist Naomi Muguruma. 10-year cash bonds have yet to change hands; Muguruma tips a 0.720%-0.735% range for Monday vs Friday's 0.730%.
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