JGB futures ground higher in the morning.......>

JGBS: JGB futures ground higher in the morning session after opening around the

overnight low from Friday. JGBs then drew support from the latest round of

risk-off flows stemming from the BBG headline re: U.S.-China trade talk impasse.

- Futures finished the morning session closer to neutral levels as a result, 2

ticks lower on the day, as the Nikkei 225 gives up the bulk of its early gains &

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

risk-off flows, with the Nikkei 225 moving back from worst levels into the

lunchbreak.

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

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 Riban operations & 20-Year JGB supply will garner interest