A Muted Morning

Yields were marginally mixed across the cash curve, with little in the way of definitive movement observed during the Tokyo morning. Futures ticked lower, hitting the bell 6 ticks below Tokyo settlement levels. The only real point of note on the local front saw Japan confirm that it will set up mass vaccination centres serving Tokyo & the surrounding prefectures, although Chief Cabinet Secretary Kato stressed that decisions re: the scale and manufacturer of the vaccine have not been finalised. Participants remain on the lookout for the outcome of the latest BoJ monetary policy meeting, although nothing in the way of change re: the Bank's monetary policy settings is foreseen.