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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

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A calmer start for Bonds, as Equities reverse some of yesterday's big sell off.

  • This has in turn kept the lid on Govies, and curves bear steeper, but well within yesterday's ranges.
  • EU services PMIs were the early focus, but the data miss had little impact, with German Bobl supplies weighing.
  • Peripherals trade close to flat against the German 10yr, although Greece is the stand out, albeit at just 2.8bps tighter.
  • Gilts have traded inline with Bunds, also weighted going into UK 2031 and 2046 auctions.
  • UK curve sits bear steeper, while the contract trades in a tight 20 ticks range (127.88-128.08).
  • US Treasuries are also better offered with volumes picking up slightly during the European session, after a very quiet overnight session, with Japan and China on holiday.
  • The long Treasury strip trades in the red after Equity, like the Nasdaq and mini S&P recovers most of their losses
  • Looking ahead, US services PMI, but final reading here.
  • Speakers include ECB Vasle, Lane, and Fed Evans, Rosengren, Mester