JGB futures looked through the latest round....>

JGBS: JGB futures looked through the latest round of adjustments to BoJ purchase

sizes across the 1-10 Year zone of the curve (with the 3 buckets experiencing

Y20bn worth of extra purchases apiece), even with moderations in the offer to

cover ratio across all 3 buckets.

- Contract +3 on the day ahead of the bell. Front end of the curve outperforms

on spill over from yesterday's SME liquidity enhancing measures from the BoJ.

Swaps generally wider on the day.

- Elsewhere, RTRS sources noted that "Japan plans to cut the amount of

inflation-linked government bonds it sells to the market next month to the

lowest level in seven years...The MoF originally planned to issue Y300bn worth

of inflation-linked bonds in a quarterly auction scheduled for May 8. Given

prospects of weaker price growth, the MOF is expected to trim the amount to

Y200bn, which would be the lowest amount of issuance since 2013."

- Space observes a holiday on Wednesday.