JGB futures have stuck to a tight range,.......>

JGBS: JGB futures have stuck to a tight range, ignoring headlines which stated

that North Korea remains willing to meet with the US despite US President Trump

cancelling the proposed June summit. Futures went into the lunch break 3 ticks

higher at 150.86.

- The cash curve has operated in mixed fashion, lacking broader direction.

- The latest round of BoJ Rinban operations saw the Bank leave the size of the

operations covering the 1-10 Year buckets unchanged. Looking at the breakdown of

the operations, released during the lunch hour, we note the offer to cover ratio

of the operations ticked up across all 3 buckets, although the moves weren't

large.