JGB futures moved sharply away from best.......>

JGBS: JGB futures moved sharply away from best levels on the back of BBG BoJ

source reports which suggested that some at the BoJ are said to see the 10-Year

yield limit somewhere higher than +0.2%, with BoJ officials said to not want

sharp 10-Year yield volatility according to the sources.

- Futures ran out of steam ahead of Fibonacci resistance around 150.80, after

turning bid on broader risk off flows earlier on, moving to fresh session lows

on the back of BBG headlines.

- Yields sit unchanged to a few tenths of a bp higher last, after moving into

negative territory during early afternoon trade.

- The BOJ left the size of its Rinban operations covering 1-10 ~Year operations

unchanged today, the offer to cover ratios can be seen below.

- 1-3 Year 2.58 (prev. 3.64), 3-5 Year 1.78 (prev. 2.21), 5-10 Year 2.60 (prev.

1.70).

- Focus next week turns to the BOJ's latest MonPol decision, with industrial

production and labour market data also due, in addition to Rinban operations &

10-Year JGB supply