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20-Year JGB Supply, RBA Minutes Eyed After Muted Start

BOND SUMMARY

Little new to write home after the latest update on U.S. Tsys. T-Notes trade +0-00+ at 132-07, holding a tight range thus far, with cash Tsy yields showing little deviation from neutral levels as we type. Eurodollar futures last seen -0.5 to +0.5 tick through the reds. Headline flow has been rather sparse in early Asia-Pac trade.

  • JGB futures have shed their initial uptick and last trade at 151.43, where the contract settled on Monday. Cash JGB yields sit a touch lower across the curve, with the 20-30 sector outperforming ahead of today's auction of 20-Year JGBs.
  • Australian YM trade -0.5, with XM -4.0, while cash ACGB curve has bear steepened a tad. XM has unwound its earlier uptick, possibly on the back of TCV Sep '33 supply. Bills trade 1-2 ticks lower through the reds. Focus moves to the minutes from the RBA's latest MonPol meeting.

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