JGB futures edged higher overnight, although...>

JGBS: JGB futures edged higher overnight, although the contract stuck to a tight

range in post-Tokyo trade.

- The BoJ decision headlines today, for our preview see the link below:

- https://emedia.marketnews.com/marketnewsintl/BoJ_Preview_July_2019.pdf

- Also worth flagging our latest MNI Insight piece which noted that "the Bank of

Japan may trim monthly long-term JGB purchases, as global economic uncertainty

boosts foreign demand for longer-term government bonds, and could act as early

as Wednesday, when it announces its August operations schedule. The BOJ

currently offers to buy Y480 billion JGBs with a remaining life of 5-to-10 years

four times a month to ensure proper market functioning, but it could reduce the

amount offered in each auction as a result of strong demand for Japanese debt."

- On the local date front, the latest labour market report is due shortly, with

the flash industrial production prints due later in the session.