JGB futures were dragged lower by the..........>

JGBS: JGB futures were dragged lower by the broader impetus in the Tokyo morning

after a weak start which saw the overnight gains unwound and more, with

concession ahead of today's 10-Year supply also evident.

- The auction itself was solid enough (steadyish cover, steady tail & a low

price topping dealer exp.), which saw some pre-event chop, before a tick up from

lows.

- Contract then faded back towards worst levels ahead of the close, last -9

ticks, with a focus on Chinese stocks evident in regional trade.

- The belly has underperformed in cash trade, with swaps generally wider across

the curve.

- A speech from BoJ Deputy Wakatabe headline's tomorrow's local docket.