JGB futures have backed off from best..........>

JGBS: JGB futures have backed off from best levels, last dealing 5 ticks or so

higher on the day, after a run higher in late morning trade, which spilled over

into the afternoon after the lead contract breached Tuesday's session high. The

contract ran out of steam ahead of resistance noted at the July 23 high of

150.98.

- The cash curve has witnessed some modest flattening.

- The Nikkei 225 traded either side of unchanged throughout the day, generally

outperforming the other regional benchmark equity metrics.

- The space looked through the latest GDP release.

- It is worth noting that there is some Y2.6tn worth of redemptions from old

2-Year paper due on Thursday, with a 5-Year JGB auction also scheduled.