JGB futures stuck to a tight range Thursday,...>

JGBS: JGB futures stuck to a tight range Thursday, after the space ticked higher

in early Tokyo trade, taking queue from the dovish FOMC & ensuing reaction in

the Tsy space, with the curve flattening as a result. Afternoon trade saw a bid

develop in the short-end of the curve, on the back of a strong 2-Year auction

which saw the low price exceed dealer exp., cover ratio tick higher and tail

narrow. Futures trickled higher overnight.

- The accounts from the BoJ's latest MonPol decision and subsequent comments

from BoJ Deputy Gov. Amamiya focused on increasing downside risks, but revealed

very little in the way of fresh information.

- The BoJ left the the size and frequency of its Rinban operations in January

unchanged vs. January.

- Labour market data headlines the domestic docket in Japan today.