JGB futures last deal 6 ticks above............>

JGBS: JGB futures last deal 6 ticks above settlement and haven't really looked

offered all day.

- The cash space has seen some twist flattening creep in.

- The BoJ left the size of its 1-10 Year Rinban ops unch., offer to cover ratios

as follows; 1-3 Year 3.60x (prev. 3.74x), 3-5 Year 2.63x (prev. 2.98x), 5-10

Year 3.29x (prev. 2.23x).

- The BoJ's August Rinban plan will be outlined after hours today. Worth

reminding that an MNI Insight piece released earlier this week noted that "the

Bank of Japan may trim monthly long-term JGB purchases, as global economic

uncertainty boosts foreign demand for longer-term government bonds, and could

act as early as Wednesday, when it announces its August operations schedule. The

BOJ currently offers to buy Y480 billion JGBs with a remaining life of 5-to-10

years four times a month to ensure proper market functioning, but it could

reduce the amount offered in each auction as a result of strong demand for

Japanese debt."