JGBs haven't had much to go off, with..........>

JGBS: JGBs haven't had much to go off, with nothing of note to shock the space

in the statement that accompanied the final BoJ decision of 2019 (focus now

falls on Kuroda's press conference). The BoJ reiterated its forward guidance,

while noting that "downside risks concerning overseas economies seem to remain

significant, and it also is necessary to pay close attention to their impact on

firms' and households' sentiment in Japan." Elsewhere, the BoJ cut its

assessment of industrial production but maintained its overall economic

assessment Futures hover just below the overnight session lows, but lack any

real conviction, last -18, with the belly underperforming in cash trade.

- The latest weekly Japanese international security flow data revealed that net

foreign purchases of JGBs more than halved, to Y227.4bn vs. prev. week. Although

this represented a 4th consecutive week of purchases which allowed the 4-week

rolling sum of the measure to move further into positive territory, as the most

recent week of net selling dropped out of the sample.

- National CPI & a liquidity enhancement auction for 5-15.5 Year off the run

JGBs headline tomorrow's local docket.