JGB futures held a tight range in the final....>

JGBS: JGB futures held a tight range in the final overnight session of last

week, adding 5 ticks vs. Tokyo settlement levels, drawing support from the

broader risk-off feel that was apparent.

- Broader markets have continued to trade with a modest risk-off dynamic early

this week.

- On the fiscal front it is worth noting that Yomiuri sources have suggested

that the Japanese government is not planning on setting ceilings for FY2021

budget requests because of uncertainties re: the domestic economy in the wake of

the COVID-19 outbreak.

- Elsewhere, the new daily COVID-19 case count in the capital city of Tokyo

remains above the key 50 threshold monitored by local government.

- 5-25 Year BoJ Rinban operations headline the local docket today.