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JGB's closed mixed on Friday, the short end....>

JGBS
JGBS: JGB's closed mixed on Friday, the short end selling off after the BoJ
reduced their T-Bill purchases to Y250bln from Y1.25tln, long end saw some
decent buying. Story that the MOF will reduce issuance next year for the 5th
consecutive year garnered some attention. Trade expected to be quiet heading
into Christmas period, markets now have one eye on the BoJ announcement on Dec.
21 and the heavy calendar for BoJ purchases remaining in December.
- JGB View Barclays: "Following the rise in short- and intermediate-term UST
yields over the weekend, we expect a modest selloff in superlongs on an
improvement in risk sentiment as well as position adjustments ahead of
tomorrow's enhanced liquidity auction. The BoJ is scheduled to carry out rinban
operations in the 1y-5y and 5y-10y sectors. Notable events set for this week
include a BoJ monetary policy meeting (20-21 December) and auctions for enhanced
liquidity in the 15.5-39y sectors (19 December) and 5y-15.5y sectors (22
December)."

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