JGB futures added 4 ticks overnight, paring....>

JGBS: JGB futures added 4 ticks overnight, paring back from best levels after

failing to hold a move above 153.00.

- BoJ Governor Kuroda's press conference saw a reiteration of the pledge re: no

hesitation in taking additional easing measures if needed, citing deepening

negative interest rates as a possible option, although he didn't elaborate

further on the matter. This isn't particularly shocking, given that the focus of

the Bank's latest monetary policy moves was on SME & JGB market liquidity. Most

agree that there is a relatively high bar re: further rate cuts, which would

likely be a move of last resort for the Bank.

- Elsewhere, the Bank released its Rinban outline for the month of May, nudging

the top end of the purchasing bands higher for the 1-10 Year buckets (see MNI

POLICY: BOJ Ups Upper End of May Mid-, Long-Term JGB Buys on MNI Main Wire at

09:50 04/27 BST for details), although the bank did pare back the number of 3-5

Year operations for the month, to 5 from 6.

- The latest labour market report saw a marginal uptick in unemployment rate, as

expected, with the Job/Applicant ratio easing further.