Turning out to be a quiet session so far for...>

JGBS: Turning out to be a quiet session so far for JGB's, futures last down 1

tick at 150.42, holding a narrow range, yields mixed but mostly flat. 30-Year

sector seeing some speculative flows ahead of the 30-Year auction tomorrow which

is expected to be strong. BoJ conducted purchase operations in the <1-5 Year

sectors, all sizes unchanged.

- Some focus on Samurai bonds keeping price activity in JGB markets subdued,

BPCE (French bank) to issue 5-Year(IPT: +4-5bp), 5-Year senior non-preferred

(IPT: JPY swaps +22bp) and 10-Year senior non-preferred(IPT: JPY swaps +40-41bp,

slightly tighter than previous guidance). Deal expected to price tomorrow.

- JGB outlook Barclays: "Today could see buyers take the upper hand in the

medium/longterm sectors, especially futures, amid deteriorating risk sentiment

after USTs were bought in the long end overnight. Ahead of Thursday's 30y

auction, however, the superlong sector could meet upside resistance."