JGB futures edged away from the opening........>

JGBS: JGB futures edged away from the opening session lows on Wednesday, after

softening in Tuesday's overnight session, with cash yields edging ever so

slightly higher as the long end underperformed.

- The BOJ left its MonPol settings unchanged at its latest MonPol decision as

exp. with 2 dissenters at the meeting. Harada wanted the forward guidance

adapted to further clarify its relation with the Bank's CPI target, as he deems

the current guidance as too ambiguous. Kataoka continued to dissent against the

idea that inflation will converge to 2%.

- Gov. Kuroda's press conference offered little fresh insight, focusing on trade

war issues and the potential knock on effects for the Japanese economy. Kuroda

also noted that there is no gap in opinion between the BOJ and the government

regarding the side-effects of prolonged monetary easing

- It is worth noting that there will be ~Y20tn worth of redemptions in the space

today.

- Focus now turns to the ruling LDP party's leadership election & 20-Year

supply, due today & the week's remaining Rinban operations, due Friday.