JGB futures edged back from their early........>

JGBS: JGB futures edged back from their early highs to finish the morning

session 2 ticks above settlement levels, as the major global equity markets

recovered from their early session lows. Yields were mixed across the curve,

while the swap space twist flattened.

- The BoJ left the size of its 1-10 Year JGB purchases unchanged in its latest

round of Rinban ops. The breakdown of the ops revealed slightly lower

offer/cover ratios for 1-5 Year ops, although the spreads covering those buckets

widened a little vs. the respective prev. ops. Meanwhile 5-10 Year ops saw a

moderation in the offer/cover ratio and little movement in spreads.

- Elsewhere, JSDA data revealed the largest round of monthly regional bank

buying of super-long JGBs on record.