[MARKET ANALYSIS] JGB futures rally despite an upward GDP revision, firmer-than-expected Labour Cash Earnings and looming 5yr auction

USTs: +1 ticks

• Eked slight gains in quiet trade following the recent holiday lull and with oil prices little changed overnight, while price action is also not helped by looming supply, with a US 3yr note auction scheduled later.

Bunds: +12 ticks

• Nurses some of the prior day's losses but with upside limited ahead of German Trade Data and with EUR 7bln of Bund issuances due Tuesday-Wednesday.

JGBs: +36 ticks

• Rallied as long-term yields declined despite stronger-than-expected revised GDP data and firmer Labour Cash Earnings, while JGBs are also unfazed by the looming 5yr auction.