Not much to write home about for.......>

BOND SUMMARY: Not much to write home about for Tsys during the Asia-Pac session,

with a negative tone for e-minis and regional reaction to Thursday's BoJ sources

piece from the Nikkei/the FT remdesiver story underpinning. T-Notes operate on

low volume, last +0-02 at 139-02+, as the curve twist flattens.

- JGB futures were well bid on the well documented Nikkei story that was run

outside of Tokyo hours on Thursday, with the contract last dealing 30 ticks

higher on the day, albeit a little limited in afternoon trade on the back of the

uptick in the offer to cover ratio in the latest round of 10-25 Year BoJ Rinban

ops. The 5-10 Year sector of the curve has outperformed all day, with swaps

wider across the curve ex. 10s & 20s.

- Aussie bonds have held a tight range after XM drifted lower in early Sydney

trade. A very strong 3-Year auction was witnessed, with the line on offer

effectively backstopped by RBA YCC for now. Elsewhere, the AOFM decided to

compress next week's hefty ACGB issuance into 2 auctions. YM unchanged, XM -1.5