A move lower in USDJPY has put a modest bid...>

BONDS: A move lower in USDJPY has put a modest bid into the fixed income space,

with US 10-Year yields around 1.3bp softer at the time of writing, and the US

curve flattening a tad. We have also heard of some credit desk selling in 10s,

although activity in the space remains relatively muted.

- Australian bonds have also seen a modest bid after a bond which features in

the 10-year futures bucket was well-received in today's auction; the AU/US

10-Year spread has hovered around 3bp thus far.

- Japanese benchmark yields have also ebbed lower, ex-5-Year, in front of supply

in that sector due after the Tokyo-break.