JGB futures saw a modest uptick at the Tokyo...>

JGBS: JGB futures saw a modest uptick at the Tokyo re-open on the HK Bill

matters & softer than exp. local retail sales (subjected to effects of the sales

tax hike), before fading. Futures last -20, with the latest round of 2-Year

supply a little softer than the prev. offering. Some month-end buying flows may

have been evident in the long end during the latter part of the session, with

forecasts of larger than usual duration extension for JGB indices at the end of

the month, allowing some modest bear flattening on the day.

- Elsewhere, BoJ Gov Kuroda spoke. Kuroda didn't mention MonPol in his speech,

but touched on the outlook in a Q&A session, indicating that the BOJ will

maintain the current easy policy to prevent short- and long-term interest rates

from rising due to a possible increase in JGB issuance.

- Labour market data, Tokyo CPI & Ind. Production headline tomorrow's local

docket. Elsewhere, the BoJ will announce its Dec Rinban plans.