The 10-Year JGB opened Tokyo at 150.37 after...>

JGBS: The 10-Year JGB opened Tokyo at 150.37 after a choppy overnight session,

ending lower with Tsy's after ECB meeting news that Jan-Sept 2018 ECB bond-buys

will be halved to E30B/mo pace (vs. E60B now.)

- Japan CPI came in half an hour ago, as predicted and the same as prior so no

reaction expected from that but later we have BOJ Purchase Operations of the

5-10, 10-25 and 25+ year sectors which have attracted decent demand in the last

operations, yields are mixed, 2-/20-Year spread is at 1.7bp.

- Barclays Opening Call: "Today could see the superlong end of the JGB market

continue to meet upside resistance amid risk-on sentiment after UST continued to

fall overnight, but short/medium-term sectors could hold relatively firm with

the confirmation of favourable supply and demand. The BoJ is scheduled to hold

buying operations in 5-10y and 10y+ sectors today."