The overnight session saw JGB futures draw.....>

JGBS: The overnight session saw JGB futures draw some support from the

aforementioned Nikkei source report, which noted that "the Bank of Japan next

week will discuss shifting to unlimited purchases of Japanese government bonds

in response to a deep coronavirus-induced economic slump." The story forced the

contract to overnight highs, before a slight pullback. Still The contract

finished NY trade 13 ticks above settlement levels. Elsewhere overnight, Japan's

government lowered its overall economic assessment for a second straight month

Thursday, saying the economy is getting worse rapidly, describing the situation

as extremely severe. It is the first time in almost 11 years that the government

used the wording "worse" in describing the economic climate.

- Also worth noting that Nippon Life revealed that it will increase its holdings

of both domestic and unhedged foreign bonds this fiscal year after increasing

both assets in the last, the company's chief fund manager said Thursday.

- We have already seen the release of national CPI data for March, which met

expectations. Later today we will see the latest round of 10-25+ Year Rinban

operations from the BoJ.