JGB yields rose to the highest level since.....>

JGBS: JGB yields rose to the highest level since early November in the session

yesterday as the global bond sell off weighed on JGB's in quiet trade. 

- JGB futures last down 17 ticks at 150.59, dropping in the overnight session

and seeing whippy price action in thin trade ahead of the BoJ announcement

today.

- Barclays on JGB trade today: "We expect a further selloff today led again by

futures following the ongoing bear steepening overnight in US and European bond

markets. We believe the BoJ's monetary policy meeting will prove a non-event

with the bank reaffirming its current monetary policy, as per market

expectations. One point of interest will be discussions (particularly whether

there is any actual proposal) between policy board member Goushi Kataoka, who

had praised the effectiveness of the bank's monetary easing at the previous

meeting, and the bank's leaders, who are seen as more reluctant on the subject

of a further easing. We should also be alert to any mention of the reversal rate

or candidates for the next governor by Governor Haruhiko Kuroda (whose term

expires next April) at his post-meeting press conference."