10-Year JGB futures are 8 ticks.........>

JGB SUMMARY: 10-Year JGB futures are 8 ticks higher at 150.97, while the curve

was shaped by the BoJ's Rinban operations in the 5-10 Year bucket which

outperformed on the session as bonds either side of the sector lost ground,

while the yields of bonds within the sector dipped.

- It is worth noting that the offer to cover ratio seen in the operations picked

up ahead of 10-Year supply on Thursday.

- BoJ Gov. Kuroda noted that the Bank must continue with its monetary easing as

he appeared in parliament. He also stated that the BoJ was not currently

considering a comprehensive assessment of its monetary policy strategy. 

- Morgan Stanley believe that month end extensions could support the JGB space

in the early part of the week, with the bank estimating that the index including

JGB's with 1-Year+ until maturity should be extended by 0.2 years at month end.

- From a technical perspective fresh 2018 highs continue with bulls now focused

on 151.01. A close above 151.01 is needed to shift focus to 151.19-51. Daily

studies now at O/B levels is the key concern for bulls. In saying that, bears

now need a close below 150.85 to ease pressure on resistance layers.