JGBs are likely to open higher on Tuesday's gains in U.S. Treasurys and a slowdown in the yen's downtrend. "In addition, the outline of JGB issuance increases and a point of compromise on an inflation target are starting to become clearer," says Tokai Tokyo Securities chief JGB strategist Kazuhiko Sano. Lead March JGB futures are tipped in a 143.43-143.59 band vs 143.43 at Tuesday's close, while the benchmark 10-year cash JGB yield is expected to move in a 0.810%-0.820% vs 0.825%.
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