Futures Move Back Near Support

JGB futures shed 9 ticks overnight, pressured by the weight witnessed in the U.S. Tsy space, with the contract nearing previously outlined technical support at 151.49.

• In terms of local headline flow, the latest Nikkei poll revealed that more than 120 ruling LDP party lawmakers plan to support former party policy chief Fumio Kishida in the race to become party leader, which represents somewhere in the region of ~30% when it comes to parliamentary support. Note that this underscores the findings from a previous Nikkei poll, while Taro Kono seemingly remains favourite to assume leadership of the party given the wider support he receives from the broader party membership.
• 40-Year JGB supply headlines the local docket on Tuesday. The minutes from the BoJ's July meeting will also be released, although these are somewhat stale given the fact that another monetary policy meeting has been held since then.