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Futures shed 3 ticks in the final overnight....>

JGBS
JGBS: Futures shed 3 ticks in the final overnight session of last week, sticking
to a tight range.
- A reminder that after hours Friday saw the BoJ lift the number of 3-5 Year
Rinban ops that it plans to conduct in June to 6, from the 5 seen in May, as it
trimmed the upper limit of the purchase size in the bucket to Y450bn (prev.
500bn) N.B. the last round of ops covering this bucket saw Y350bn purchased. The
Bank also lifted the lower limit of the purchase size of 5-10 Year JGBs to
Y250bn (prev. Y200bn) N.B. the last round of ops covering this bucket saw Y370bn
purchased. There were no other changes in the plan vs. the May outline.
- Worth noting that PM Abe's approval ratings continue to languish,
- Q1 CapEx data and final manufacturing PMI reading headline the local docket
today, while the BoJ will conduct 1-3 & 25+ Year Riban ops.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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