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Futures dealt either side of unchanged during morning trade, holding to a narrow range, hitting the bell 3 ticks below yesterday's settlement level. The 5- to 10-Year zone of the curve was little changed vs. some light underperformance in the wings, where some modest cheapening was seen. That being said, the weakest points on the curve have only cheapened by ~1.0bp on the day. The previously flagged reports re: deeper COVID restrictions in Tokyo & other areas have received a broader airing in the Japanese press. 5-Year JGB supply headlines this afternoon, with Berkshire Hathaway already pricing up the previously flagged Y160bn round of multi-tranche JPY issuance.