JGB futures benefitted from a heavy morning....>

JGBS: JGB futures benefitted from a heavy morning session for the Nikkei 225,

with the contract entering the lunchbreak 12 ticks higher, as the Japanese

benchmark equity index shed 1.4%. The curve bull flattened in cash trade.

- A soft core machine orders print also applied some pressure to sentiment.

- Elsewhere, the BoJ left the size of its 5-25+ Year Rinban operations

unchanged, offer to cover ratios as follows:

- 5-10 Year 2.62x (prev. 2.59x), 10-25 Year 2.85x (prev. 3.30x), 25+ Year 4.34x

(prev. 3.97x)

- Worth highlighting that the MoF will conduct a liquidity enhancement auction

for off the run JGBs with 5-15.5 years until maturity tomorrow.