Slow Start To Asia Session, 2-Year JGB Supply Eyed

T-Notes hold a tight range, hovering just above Monday's low. The contract last sits +0-01 at 131-12+, with cash yields little changed across the curve. Eurodollar futures sit unch. to +0.5 tick through the reds.

• JGB futures stable from the off, trade at 151.35, -12 ticks vs. last settlement. Cash JGB yields show little deviation from neutral levels, with the super-long end outperforming at the margin. Japanese unemployment remained unch. at 2.9% (vs. exp. of uptick to 3.0%), while the monthly increase in retail sales was faster than forecast. 2-Year JGB supply headlines the local docket during the remainder of the day.
• Australian YM trades -1.0 & XM sits -5.5, both remain rangebound. Cash ACGB curve has bear flattened, yields trade 0.6-5.3bp higher. Bills run 1-3 ticks lower through the reds. Australian ANZ Roy Morgan Weekly Consumer Confidence edged higher to 112.3 from 110.4. Elsewhere, APRA said it's reviewing tools to curb excessive risk taking in the housing market.