JGB futures cheapened at the margin overnight, ultimately shedding 9 ticks, with the impulse from firmer-than-expected Spanish CPI data (which was slightly muddied by methodology tweaks) leaking through into the contract.

• There hasn’t been much in the way of meaningful domestic news flow observed since the Tokyo close, with no movement in the BoJ’s February Rinban plan (when it comes to frequency and outlined ranges of purchases) leaving continued BoJ speculation (in lieu of potential Deputy Governor-in-waiting Okina’s comments, made late Monday) at the fore.
• Labour market data got the usual month-end domestic data deluge underway, with nothing in the way of movement in the headline metrics. Retail sales and flash industrial production will cross shortly, with consumer confidence data slated for later in the session. 2-Year JGB supply rounds off the domestic docket.