JGB futures drew support from the BoJ..........>

JGBS: JGB futures drew support from the BoJ leaving the size of its 10-25+ Year

JGBs unchanged on Monday. Some were worried about the potential for an

adjustment to try and steepen the yield curve after the recent tweaks/release of

the November Rinban schedule. The stable size of the operations saw the offer to

cover ratios ease across both buckets.

- The offer to cover ratios of the operations can be found below:

- 10-25 Year: 3.16 (prev. 4.36)

- 25+ Year: 3.51 (prev. 4.59)

- BoJ Gov. Kuroda offered little new in a speech he made, outside of sounding a

little more concerned re: spill-over effects of the Bank's MonPol, in line with

the recently released FSR.

- The minutes from the Bank's Sep MonPol decision also revealed little in the

way of fresh information.

- BoJ Rinban ops, a speech from BoJ's Funo and the accounts from the Bank's most

recent MonPol decision provide the highlights for participants this week.

10-Year JGBi supply will hit later today.