Turning out to be another quiet session for....>

JGBS: Turning out to be another quiet session for JGB's, last flat on the

session and moving in a 4-tick range in Tokyo, final volumes for the session

yesterday in JBU7 just 15k, lowest since June 19.

-  Market ignored the Nikkei Japan July final Manufacturing PMI. Final number

came in at 52.1 from 52.2 in the initial reading and 52.4 last time out, the

slowest pace of expansion in 8 months. The compilers of the survey note "The

expansion of the Japanese manufacturing sector was undermined somewhat during

July by a slump in new export order growth, which led to the lowest rises in

both output and new orders since the final few months of last year." Though on a

more positive note they add "sentiment reached its highest level in over five

years of data collection and, combined with ongoing rises in staffing levels,

provides some reassurance that growth should be sustained in the coming months."

- JGB futures last at 150.16, yields seeing limited movement with the curve

steepening slightly. Market awaits 10-Year auction later.