JGB futures outperformed global core FI........>

JGBS: JGB futures outperformed global core FI counterparts in early Tokyo trade,

more than unwinding the losses seen in the final overnight session of last week,

before the strength faded, with the contract last trading 2 ticks lower vs.

settlement as we head towards the close.

- Yields sit marginally mixed across the curve, with no real headline flow

apparent in the space.

- Also worth flagging that 20- & 30-Year spread widening has been apparent.

- 2-Year supply headlines tomorrow's local docket, with the minutes from the

BoJ's October meeting also due.

- Focus continues to fall on the upcoming BoJ Rinban ops covering JGBs with

5-25+ Years to maturity, scheduled for Christmas day. There is increased

speculation from various desks that the BoJ may taper long end purchases.