Sedate Overnight Trade, With A Light Bid Tone Seen In Core FI

T-Notes operated within a narrow range during Asia-Pac hours, sticking to the upper end of Wednesday's range, after the late richening that was seen during NY hours. Macro headline flow was light, with fresh highs for S&P 500 e-minis keeping a lid on the space. Cash Tsys trade at virtually unchanged levels across the curve, with a ~6.9K block seller of the TYG1 137.00 puts providing the highlight on the flow front. Eurodollar futures are virtually unchanged through the reds, with a ~12K seller of EDM1 seen, with activity in that space otherwise light.

• JGB futures have added 6 ticks to Tokyo settlement levels, initially on catch up to the late NY move in U.S. Tsys, although the contract then ticked back to more neutral levels before edging higher again in the afternoon as the BoJ's latest monetary policy decision failed to move the needle in any way. Cash trade has seen outperformance for 5+-Year JGBs. Focus now moves to BoJ Governor Kuroda's press conference, with a particular interest surrounding any comments that may be made re: the Bank's ongoing monetary policy review.
• Aussie bonds were immune to a solid round of local labour market figures, outside of some contained chop around the data release, with the curve flattening. YM -0.5, XM +1.5.