"The JGB market is likely to lack direction Friday ahead of the lower house dissolution expected around 0630 GMT, due to speculation over the new administration after a planned election and policy changes," says SMBC Nikko Securities chief bond strategist Hidenori Suezawa. The market is especially focused on LDP chief Abe's stance on monetary policy, after his comments that BOJ should cut the reserve interest rate to zero or to negative territory boosted JGBs on Thursday. Lead December JGB futures are tipped in a 144.50-144.70 band vs 144.59 at Thursday's close, while the benchmark 10-year cash JGB yield is expected to move in a 0.720%-0.740% band vs 0.735%.
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