After rising at the open alongisde a fresh.....>

JGBS: After rising at the open alongisde a fresh bid in UST's after reports that

the House would have to vote on a slightly amended tax bill again due to some

procedural errors in the first version of the bill. After peaking at 150.88 JGB

futures dropped to session lows of 150.82, MNI technical analysis sees

resistance at 150.75 - Low Dec 5. 

- Very quiet thin trade in pre-Christmas week.

- Yields higher across the curve, which has seen a bear steepening bias

alongside the move in UST's which saw the biggest two day steepening move in

2017.

- Market awaits BOJ meeting tomorrow where no change is expected, but

participants will watch for any hints as to a more hawkish tilt from the Bank

after speculation recently. BOJ sources attempted to quell these rumours last

week saying that the "reversal rate" comment was aimed at discouraging

additional easing.