A bit more of a look into the blip lower in....>

JGBS: A bit more of a look into the blip lower in JGB futures at the re-open.

The NY/Asia crossover saw Nikkei & RTRS sources suggest that the Japanese

government will maintain its view that the economy is in a state of moderate

recovery when it issues its monthly economic report on Thursday. RTRS pointed to

some tweaks around the language surrounding exports, while both wires noted that

their will be a feeling of heightened risk owing to the Coronavirus outbreak.

The Nikkei noted that it is too early to tell re: the impact of Coronavirus.

- This is in line with commentary from various top level government policymakers

and the BoJ in recent days, although is probably a little more upbeat than the

market/private economist assessments, which may have driven the opening blip

lower, even though the stories do not really contain any real surprises.

- Futures went into the lunch break 4 ticks below settlement levels, 24 ticks

off lows, with the long end of the curve underperforming ahead of tomorrow's

20-Year JGB supply.