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JGB futures added 3 ticks overnight, recovering from session lows as the U.S. cash Tsy curve twist flattened.

  • Local headline flow continues to be dominated by the political backdrop. Japanese voters will cast their ballots in the general election on Sunday. The latest Kyodo poll confirmed projections suggesting that the LDP together with its coalition partner Komeito will retain a comfortable majority in parliament, although the coalition will likely lose some seats.
  • 2-Year JGB supply headlines the local docket on Wednesday. Elsewhere, the BoJ will start its 2-day monetary policy meeting, with no changes ultimately seen when the BoJ releases its decision on Thursday.