Futures Regain Some Poise

Post-Tokyo dealing saw JGB futures shake off the late Tokyo cheapening impulse (+8 at the close of overnight trade), which was of course linked to the Nikkei article flagging a larger than expected fiscal spending package, although details re: the related JGB issuance program have not been forthcoming (with BBG suggesting that a combination of cash reserves and unspent cash from previous support packages may lower the bond issuance requirements tied to the package). CPI data has already hit this morning, printing pretty much in-line with wider expectations. Focus remains on the aforementioned fiscal package, which is set to be formally outlined at some point today.