JGB futures ticked higher overnight, aided.....>

JGBS: JGB futures ticked higher overnight, aided by soft global m'fing PMIs from

across the globe.

- The long end of the curve outperformed in Wednesday's Tokyo session, as

traders utilised the post-auction sell off in 40-Year to initiate flatteners.

- Overnight the latest RTRS sources piece noted that "Bank of Japan officials

are divided on whether to ease monetary policy next week or hold off, as they

grapple with the need to protect the economy from an unwelcome yen spike and

heightening global uncertainties with a dwindling tool-kit. There is no

consensus within the BOJ yet on the preferred move at the July 29-30 rate

review, as much will depend on the European Central Bank's policy decision on

Thursday and the market response, say sources familiar with the BOJ's thinking."

- There has also been some focus on a missile launch out of North Korea over the

past couple of hours.

- Services PPI & 2-Year supply provide the highlights of the local docket today.