JGB futures finished little changed vs.........>

JGBS: JGB futures finished little changed vs. settlement levels by the end of

the overnight session, after extending beyond the Tokyo highs at one point.

- This came after the BoJ left its MonPol settings unchanged on Tuesday,

initially disappointing some, but the addition of the following passage put a

bid into the space: "the Bank will not hesitate to take additional easing

measures if there is a greater possibility that the momentum toward achieving

the price stability target will be lost."

- We would argue that this doesn't represent a particularly fresh train of

thought from the BoJ, despite Kuroda's words on the matter, and will present

that case later today.

- Focus today moves to the BoJ's latest round of 1-10 Year Rinban operations and

the announcement of its Rinban plans for August, with the latter scheduled for

after market hours. Lower tier data is also evident on the local docket today.