JGB futures had a look at their overnight......>

JGBS: JGB futures had a look at their overnight session lows in early Tokyo

trade, before edging higher in the latter half of the morning session, as U.S.

equity index futures moved back from best levels.

- The 10-20 Year sector of the curve has experienced some modest

underperformance.

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

today, the offer to cover ratios were as follows: 1-3 Year 3.46 (prev. 2.29),

3-5 Year 2.47 (prev. 2.56), 10-25 Year 3.56 (prev. 1.95), 25+ Year 3.53 (prev.

3.28) 

- Swaps are tighter vs. JGBs across the curve.

- 10-Year JGB supply is due tomorrow, ahead of 30-Year supply later in the week.