JGB futures finished the morning session 1.....>

JGBS: JGB futures finished the morning session 1 tick lower at 150.96, operating

in a sub 10-tick range as traders await the latest BoJ MonPol decision &

subsequent press conference from BoJ Gov. Kuroda.

- The curve was notably steeper as super-long paper underperformed this morning.

- Data released earlier showed that although headline average growth rose in Y/Y

terms for a 6 straight month in January, real wages fell for the second month in

a row.

- Short term focus falls on the Spring wage negotiations that are already

underway, with the first estimates from the negotiations due next week.

- Looking at technicals for JGB futures, bulls continue to look for a close

above 151.19 to initially target 151.51 2017 highs. The Bollinger band top

(151.18) is the key concern for bulls with potential to limit follow through.

Bears still need a close below 150.89 to ease bullish pressure and below 150.47

to target 2018 lows.