JGB futures drifted lower in the final.........>

JGBS: JGB futures drifted lower in the final overnight session of last week,

finishing 8 ticks below Tokyo settlement.

- Focus fell on the BoJ's Dec Rinban outline, where it left the frequency of its

bond buying operations in December unchanged, but lowered the upper end of its

purchases of JGBs with a remaining life of 10 to 25 years to Y150bn from Y200bn.

- Weekend news flow saw Nikkei note that "the Japanese gov't plans to raise its

fiscal spending to more than Y10tn ($91bn) in econ measures that will be

finalized in early Dec, Nikkei has learned. The ruling party has called for

Y10tn in direct gov't expenditures, and the scale may further increase,

depending on the discussions. The total bill, including from local gov'ts,

private financial institutions & companies, is expected to exceed Y20tn."

- T-Notes have moved lower in early trade, likely on the back of the stronger

than expected Chinese PMI data.

- 1-5 & 10-25 Year BoJ Rinban operations & Q3 CapEx data headline the local

docket today.