JGB futures have operated in a contained.......>

JGBS: JGB futures have operated in a contained manner, closing the AM session in

the middle of a fairly tight range after a brief look at the overnight session

lows early on, before they traded in the upper end of the range in the afternoon

session, last 8 ticks lower on the day.

- The cash curve twist flattened in early dealing, before the long end's

outperformance waned, and the belly modestly underperformed, little in the way

of headline catalysts were noted.

- The Nikkei 225 trades 2.2% higher last.

- Focus on the BoJ's quarterly Tankan survey, due Friday, as well as the next

round of BoJ Rinban operations, which will cover 5-25+ Year JGBs, also due

Friday. Also worth noting that there will be a 5-Year JGB auction tomorrow.