Little in the way of concession in the.........>

JGBS: Little in the way of concession in the 10-Year sector of the curve ahead

of today's supply, although you could argue that happened yesterday. 10-Year

yields still sit at the richer end of the BoJ's permitted range, last dealing at

-0.150%.

- Curve sits a touch flatter on the day, with the super long-end outperforming

in the wake of yesterday's steepening, as global m'fing PMI data generally

disappointed on Monday (excluding U.S., although the breakdown of the U.S. ISM

was less positive than the headline reading) and market participants perhaps

came to the realisation that the temporary U.S.-China trade truce has done

little to resolve the structural issues apparent in the dispute.

- Futures trade 3 ticks higher than the Tokyo settlement, sticking to a tight

range thus far.