JGB futures ground higher for most Monday's....>

JGBS: JGB futures ground higher for most Monday's session, reversing the

overnight session losses to close marginally higher on the day. The contract

started the day near Friday's overnight lows, initially drawing support from the

latest round of risk-off flows stemming from the BBG headline re: U.S.-China

trade talk impasse. The aforementioned BBG story saw the Nikkei 225 move back

from best levels, with the index giving up the bulk of its early gains, as JPY

sat atop the G10 FX leader board. In line Chinese GDP data then limited the

risk-off flows. Japanese markets traded in a sideways fashion during the

afternoon. Yields traded marginally lower in the main, with some outperformance

in the super-long end creeping in later in the day.

- The BoJ left the size of its 1-5 & 10-25+ Year Rinban ops unchanged. Offer to

cover ratios as follows: 1-3 Year 2.35 (prev. 2.29), 3-5 Year 2.23 (prev. 3.01),

10-25 Year 2.61 (prev. 2.43), 25+ Year 3.68 (prev. 2.77).

- Focus falls on Wednesday's BoJ MonPol decision, with the Bank expected to

leave its MonPol settings unchanged, and mark down its CPI outlook. Elsewhere,

the usual Rinban operations & 20-Year JGB supply will garner interest.