JGB futures have also operated in a limited....>

JGBS: JGB futures have also operated in a limited manner, sticking within the

upper end of the overnight session's range. The contract last deals 6 ticks

higher vs. settlement.

- The super-long end of the curve has outperformed for a second day, with

flattening apparent on the curve. As a reminder, Tuesday's 40-Year auction was

weak, and may have given participants room to engage in longer dated flatteners,

a position heavily favoured by several notable strategists at present.

- Also worth noting that the space witnessed a solid enough round of 2-Year

supply as the tail narrowed, cover ratio edged higher & low price topped dealer

exp, although last month's 2-YEar auction wasn't the best.

- Focus now turns to Tokyo CPI & the BoJ's latest round of 10-25+ Year Rinban

operations, due tomorrow.