The JGB curve has unwound some of its recent...>

JGBS: The JGB curve has unwound some of its recent flattening, while futures

last trade 17 ticks lower than settlement as bears target a close back below

153.00.

- There is growing speculation that the BoJ could trim the size of its Rinban

purchases in the coming weeks owing to the slump in global bond yields (focus

falls on the BoJ's Rinban plan for June, due for release after hours tomorrow).

- The local docket was light, outside of a 2-Year auction, which was fairly

non-descript barring an uptick in the cover ratio, while BoJ's Sakurai offered

little new.

- Focus tomorrow moves to the usual month end data dump, with Tokyo CPI, retail

sales, industrial production and the latest labour market report all due for

release.