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

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

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. Futures eventually drifted lower overnight.

- Over in the cash space, yields typically shed at least 1.0bp across the curve,

with 10-Year yields closing below 0%.

- 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 Gov. Kuroda offered little

new from Davos. 

- Focus this week turns to the usual Rinban operations (1-5 & 10-25+ Year ops

due today), 2- & 40-Year supply in addition to addresses from BoJ's Nakaso &

Amamiya. The BoJ will publish the summary of opinions from its most recent

MonPol decision on Thursday.