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

JGBS: JGB futures drew support from the broader risk-off flows seen Tuesday,

with a Globe & Mail report suggesting that the U.S. is set to proceed in seeking

the extradition of the Huawei CFO from Canada pushing the front contract to

fresh session highs in the afternoon, although the move lacked follow through.

- Modest flattening was apparent across the curve, with 10-Year yields closing

at ~0.0%. The short end was perhaps limited ahead of the 1-5 Year liquidity

enhancement auction, although the results of the supply were strong enough, and

shorter date paper continues to underperform.

- A negative session for the Nikkei 225 also provided support.

- Futures stuck a tight range in the overnight session.

- Worth noting that Rabo bank announced 5-/10-Year JPY issuance, set to price

later this week. 

- The latest BoJ MonPol decision is due today, with exp. that the Bank will

downgrade its inflation outlook.