JGB futures briefly breached Tuesday's low.....>

JGBS: JGB futures briefly breached Tuesday's low in early dealing, before edging

higher.

- The shorter end of the curve drew modest support ahead of the latest round of

BOJ Rinban operations, which covered the 1-10 Year buckets. The offer to cover

ratios of the operations can be found below:

- 1-3 Year 3.64 (prev. 2.90), 3-5 Year 2.21 (prev. 2.18), 5-10 Year 2.73 (prev.

2.28).

- Elsewhere 20-Year paper experienced some modest underperformance ahead of

tomorrow's JGB auction covering the sector, before cash yields finished the

morning session largely unchanged.

- Broader yields then edged lower in the afternoon session as the Nikkei 225

moved back from best levels, as the underperformance of Chinese equities

tempered risk appetite.

- Participants now look to the BOJ's Rinban operations (Friday), addresses from

BOJ Gov. Kuroda (Thursday & Friday) & Dep. Gov. Amamiya (Saturday), as well as

20-Year JGB supply (Thursday).