Thursday's 20-Year JGB auction was well........>

JGBS: Thursday's 20-Year JGB auction was well received, the low price came in at

100.10 (exp. 100.00), with a slightly higher bid-to-cover at the auction

compared to the previous adding further support. The supply would have been

supported by the unfavourable FX-hedged U.S. Tsy yields in play for Japanese

lifers, with the super-long end of the JGB curve unwinding its pre-auction

concession and moving higher on the day.

- BOJ Rinban operations covering the 5-25+ Year buckets will dominate the docket

today.

- Daily studies looking to correct from modestly overbought levels in futures

and the lack of topside follow through remain concerns for bulls. In saying

that, bears still need a close below 150.89 to ease bullish pressure and return

initial focus to 150.71-80.