JGB's finished slightly lower on Thurday,......>

JGBS: JGB's finished slightly lower on Thurday, the curve seeing some twist

flattening as the strong 20-Year auction saw some buying in the long end. UST's

were mixed, long end saw some buying which flattened the curve further,

5-/30-Year spread tightening to 57bp.

- JGB's open Tokyo at 150.88, move slightly higher on weaker than expected Q4

Tankan Survey which saw 3 of 4 sub components soften. 

- Opening Call Barclays: "Today could see buyers initially take the upper hand

on overnight JPY appreciation and equity weakness. The BoJ is scheduled to hold

buying operations for 10-25y and 25y+ issues today. Given the decline in US

yields, yesterday's smooth 20y auction and the supply-demand schedule for the

remainder of the month - only one major auction (2y JGBs) but four BoJ buying

operations for superlong issues, including today's - we expect bull-flattening

pressures in the market through the end of the year."