JGB futures last trade at 153.68, 17 ticks.....>

JGBS: JGB futures last trade at 153.68, 17 ticks below settlement and just above

session lows.

- The curve sits steeper on the back of the weekend news and the tweaks to the

BoJ's Rinban plans announced Friday. As a reminder, the BoJ tweaked the purchase

range for some JGB maturities when it announced its July Rinban plan on Friday.

The Bank lifted the upper bound of its 1-3 Year purchase band to Y500bn from

Y450bn (most recent purchase size Y350bn). It also cut both the lower and upper

end of its 3-5 Year purchase band by Y50bn, leaving the range at Y250-500bn

(most recent purchase size Y400bn). The Bank also cut the upper end of 10-25

Year purchase band by Y50bn, to Y250bn (most recent purchase size Y200bn). There

were no changes to the frequencies across any of the maturities in the July

plan.

- The Q2 Tankan Survey saw a general decline in business sentiment measures,

even as capex plans remained solid.

- 10-Year JGB supply headlines the docket tomorrow.