JGB futures recovered from lows, briefly.......>

JGBS: JGB futures recovered from lows, briefly printing at unchanged levels vs.

Friday's settlement (last -3), with some underperformance creeping into the long

end during the Tokyo afternoon, ahead of tomorrow's 20-Year supply.

- JSDA data confirmed that domestic regional banks bought record amounts of

super-long JGBs in Q220, with domestic names incl. large banks, life insurers

and regional banks net purchasers of super-long JGBs in the month of June, while

foreigners became net sellers for the first time in 3 months.

- Local COVID-19 matters remain front and centre, with a holiday shortened week

perhaps limiting any real appetite for position building, at least against

Monday's backdrop.