JGB futures have edged higher in the...........>

JGBS: JGB futures have edged higher in the afternoon session, as broader markets

consolidated in the wake of the heavy flows that were witnessed in early

Asia-Pacific trade, last trading 2 ticks higher on the day.

- Early risk-on trade allowed the contract to unwind its overnight session

uptick, and more, before recovering, with the futures settling below 153.00

during the Tokyo afternoon.

- Cash trade has seen longer dated paper outperform, with twist flattening

evident on the curve.

- The BoJ left the size of its 1-10 Year Rinban ops unchanged, despite some

specualtion that the Bank may trim its purchases. Offer to cover ratios as

follows.

- 1-3 Year 2.63x (prev. 2.77x) 3-5 Year 2.94x (prev. 2.73x), 5-10 Year 2.22x

(prev. 1.74x)

- Elsewhere, BoJ Deputy Gov. Wakatabe noted that inflation has been subdued

across the globe.

- 30-Year JGB supply headlines the docket tomorrow.