The broader tone dragged JGB futures lower.....>

JGBS: The broader tone dragged JGB futures lower overnight, as they shed 10

ticks vs. settlement levels, finishing the overnight session at lows.

- Early focus on Tuesday has fallen on government support measures for companies

in the wake of the COVID-19 outlook (see earlier bullet for a quick summary of

the local headlines).

- Also worth noting that late Monday saw Nikkei sources suggest that the

Ministry of Finance plans to push back its deadline for FY21 budget requests

from each ministry by about a month, to Sep from Aug.

- Local focus will fall on BoJ Rinban operations covering 1-3, 5-10 & 25+ Year

JGBs, with final industrial production for March and capacity utilisation data

for the same month also due.