As already mentioned, JGB futures were the.....>

JGBS: As already mentioned, JGB futures were the underperformer amongst core FI

during the Tokyo morning, with the contract heading into the lunchbreak 16 ticks

below settlement levels, 4 ticks off lows. The move isn't huge by any stretch,

but came as JPY saw some modest outperformance amongst G10 and local equity

markets softened, perhaps some focus on the upcoming announcements re:

investment intentions for the large life insurers was evident?

- 1-3 Year BoJ Rinban ops saw the purchase size remain unch. while the

offer/cover ratio moved higher and spreads seen at the ops widened vs. prev ops

covering that bucket.