It has been a quiet session for JGBs ahead.....>

JGBS: It has been a quiet session for JGBs ahead of the elongated holiday

weekend. Yields hovered around neutral levels in cash dealing, with some slight

underperformance in 3-5 Year paper in the afternoon as the offer to cover ratio

in the latest Rinban operation covering the zone ticked slightly higher.

- The BOJ left the size of its Rinban operations covering the 1-5 Year buckets

unch. The offer to cover ratios of the operations hecan be found below:

- 1-3 Year: 3.10 (prev. 3.26)

- 3-5 Year 3.92 (prev. 3.78)

- Futures stuck to a 4 tick range in the Tokyo session.

- Comments from Japanese PM Abe had little to no impact on the space. The

Japanese PM noted that "he doesn't think that easing should go on forever,"

although Abe did stress that "it is up to the BOJ to decide when to end easy

policy."

- Focus now turns to next week's BOJ MonPol decision & ruling LDP party

leadership election.