BoJ Speak, ACGB Supply & RBNZ Decision Due After Calm Start To Asia-Pac Trade

T-Notes hold a tight range in a generally lacklustre start to the Asia-Pac session, with activity limited by market holidays in Singapore, Indonesia, Malaysia, Thailand & India. The contract last trades unch. at 132-31. Cash Tsy curve has steepened at the margin, with yields last seen -0.2bp to +0.8bp. Eurodollar futures run unch. to +0.5 tick through the reds. Fedspeak from Quarles & 5-Year Tsy supply headline the local U.S. docket today.

• JGB futures sit at 151.57, 7 ticks above last settlement as the contract has stabilised in the wake of overnight upswing. Cash JGB yields are broadly lower. Comments from BoJ's Suzuki take focus from here, with Covid-19 developments also closely watched.
• Australian YM trades +0.5, with XM +3.5 at typing. Cash ACGB curve has bull flattened, yields sit 0.1-3.9bp lower. Bills trade unch. to-1 tick through the reds. Completed construction work & A$1.0bn of ACGB 1.25% 21 May 2032 supply are due in Australia today. Meanwhile, the latest RBNZ monetary policy decision will also provide interest.