JGBs are likely to open higher, tracking Thursday's gains in U.S. Treasurys; "as the possibility of a bond-issuance bill passage increases, the external environment has become even more favorable" for the JGB market, says Tokai Tokyo Securities chief JGB strategist Kazuhiko Sano. While the 10-year JGB yield will likely break below 0.720% in the near future, some players are cautious about further yield declines, he adds. Lead December JGB futures are tipped in a 144.50-144.59 band vs 144.50 at Thursday's close, while the benchmark 10-year cash JGB yield is expected to trade in a 0.730%-0.745% vs 0.745%.
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