JGB futures have stuck to the upper end of.....>

JGBS: JGB futures have stuck to the upper end of their daily range in the

afternoon session, last 8 ticks lower on the day. This comes after the contract

finished the morning session 6 ticks lower, well off the opening lows. The

pullback from worst levels has come despite the Nikkei 225 adding ~3.7%.

- Yields out to 5-Years are lower on the day, while 30-Year paper has

underperformed. 10-Year JGB yield last 0.023% after hitting 0.0% for the first

time since Sep 2017 earlier this week.

- The size of the BoJ's Rinban operations covering 5-25+ Year JGBs was left

unchanged today. The offer to cover ratios for the operation were as follows.

5-10 Year 1.77x (prev. 2.92x) 10-25 Year 1.95x (prev. 2.67x) 25+ Year 3.28x

(prev. 2.43x).

- Labour market data & the summary of opinions from the BoJ's December MonPol

decision are due Friday, as well as industrial production & Tokyo CPI