JGB futures ticked back from the overnight.....>

JGBS: JGB futures ticked back from the overnight high in early dealing, with the

Nikkei 225 opening on the front foot and some optimism re: Brexit matters adding

some weight. The contract then retraced in the afternoon moving back to the

overnight highs, with little in the way of Japan-specific news flow apparent.

- Over in the cash space, the curve bull flattened with 10-Year yields testing

0% again, while 30- & 40-Year paper outperformed.

- The BoJ left the size of its 5-10 & JGBi Rinban operations unchanged, offer to

cover ratios as follows:

- 5-10 Year 2.76 (prev. 2.21), JGBi 4.93 (prev. 5.48).

- Worth noting that Tokyo CPI data topped exp.

- BoJ Governor Kuroda is due to appear on a panel in European hours.

- Focus next week turns to the usual Rinban operations, 2- & 40-Year supply in

addition to addresses from BoJ's Nakaso & Amamiya.