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JGBS AUCTION

40-Year JGB Auction Results

EQUITIES

Hong Kong Bucks Broadly Negative Trend

US TSYS

Oil Adding Some Pressure

AUSSIE BONDS

Steepening Pressure Lingers

KOREA RATES

20-Year Auction Results

AUSTRALIA DATA

Australia Aug Retail Trade -1.7% M/M

US TSY/RECAP
US TSY/RECAP: A limited re-open for Tsys after Friday provided a quiet end to a
busy week, with rates bid but closing off their midday highs as the belly
outperformed.
- U.S. gov't shutdown continues.
- Friday saw carry-over two-way flow after rates kicked off bid, real-money &
official acct buying, early prop & fast-money selling shorts to intermediates,
bank buying 10s. Fast-money, prop a/c selling/unwinding late.
- Cash markets are closed until the London open with Japan observing a national
holiday.
- Heavy late session selling was noted in Eurodollar Red packs (-5k), Red Jun20
1-Year bundles (-15k), likely swap tied as 2-Year spread expanded to session
wides late.
- Fedspeak to the fore this week, with Williams, George, Kaplan, Kashkari,
Harker & Quarles due throughout.
- T-Notes last 122.00+, U.S. 10-Year cash Tsy yields closed at 2.701%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com