JGB futures operated in a contained manner.....>

JGBS: JGB futures operated in a contained manner Wednesday, closing the AM

session in the middle of a fairly tight range after a brief look at the

overnight session lows early on, before they traded in the upper end of the

range in the afternoon session. The overnight session saw futures ease,

alongside Tsys.

- The cash curve twist flattened in early dealing Wednesday, before the long

end's outperformance waned, with 30-Year yields returning to unchanged levels,

while the belly modestly underperformed, little in the way of headline catalysts

were noted. The Nikkei 225 added over 2.0%.

- Focus on the BoJ's quarterly Tankan survey, due Friday, as well as the next

round of BoJ Rinban operations, which will cover 5-25+ Year JGBs, also due

Friday. Also worth noting that there will be a 5-Year JGB auction today.