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A sedate round of dealing for the JGB space, with little in the way of pertinent headline flow evident during the final Tokyo trading session of the week. Futures sit 3 ticks above yesterday's settlement levels as a result. The only real market development worth highlighting was the uptick in the offer/cover ratio for the latest round of 25+Year BoJ Rinban ops, which jumped above 6.00x, applying some modest pressure to the super long end in early afternoon trade, although some of that pressure faded as we moved towards the close.
- Elsewhere, Japanese Chief Cabinet Secretary Kato reaffirmed the notion that fiscal support will be forthcoming, if required, while Finance Minister Aso highlighted mixed consumption patterns.
- The latest local wage and household spending data was virtually in line with broader exp.
- Second tier local data headlines the Japanese docket on Monday.