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Tight Start

JGBS: JGB futures trade lower on Thursday, but went out near session highs,
after sticking to a tight range.
- The summary of opinions from the BoJ's latest MonPol decision revealed no
notable surprises.
- The Nikkei 225 added ~1.9%, which applied some pressure.
- The curve finished a touch steeper, with an uptick in the cover ratio at the
latest 1-5 Year JGB liquidity enhancement auction adding some support to the
shorter end of the curve in the afternoon session, while longer dated yields
moved off of session highs.
- Focus now moves to the 1-5 & 10-25+ Year BoJ Rinban operations due later
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