JGB futures slid in early Christmas Day........>

JGBS: JGB futures slid in early Christmas Day trade, before the latest Round of

5-25+ Year BoJ Rinban ops saw the Bank leave its purchase sizes unchanged across

all 3 buckets (there was growing chatter of the potential for a trimming of

super-long purchases in the days before), with losses further pared into the

Tokyo close, although the super-long end still underperformed (perhaps owing to

higher offer to cover ratios in the 10-25 & 25+ Year Rinban ops vs. prev. ops).

The overnight session that followed saw tight trade, with futures finishing -2

vs. settlement.

- Also worth noting that the BoJ left the purchase size ranges and frequencies

unchanged in its January Rinban plans.

- Friday sees the release of Tokyo CPI, the labour market report, retail sales

and flash industrial production.