JGB futures sit 2 ticks higher on the day at...>

JGBS: JGB futures sit 2 ticks higher on the day at typing, after a relatively

rangebound session.

- The cash space saw light outperformance in the both the belly and 20-30 Year

zone of the curve for most of the session, but it was very muted.

- We saw a fairly average 30-Year auction in the midst of the previously flagged

supply deluge, with a slight uptick in the cover ratio vs. prev., steady tail

and a low price that matched dealer exp.

- BoJ Governor Kuroda added little new to the policy debate today, reiterating

that the Bank stands ready to act if necessary and put a focus on corporate

financing matters in the wake of COVID-19. Kuroda wants to put the previously

touted fresh financing measures into place ahead of the next meeting, per RTRS,

as our previous insight pieces & Bank communique have suggested.

- Focus tomorrow moves to 5-10 Year BoJ Rinban ops and PPI data.