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A tight overnight session for the......>

BOND SUMMARY
BOND SUMMARY: A tight overnight session for the Tsy space, with an underlying
bid on the back of the weakness in e-minis & worry surrounding the latest
developments on the protest/riot front i.e. President Trump's threat of broader
troop deployment, gradually waning, leaving T-Notes -0-01 at 138-31+ as we move
towards European hours, holding a 0-04+ range. Yields marginally mixed across
the curve, with outright levels perhaps a little too rich to facilitate
meaningful buying in the Asian time zone, in absence of a fresh catalyst.
- In Japan, the overnight weakness in futures was unwound during the morning
before a soft 10-Year JGB auction saw the contract to trade back to neutral
levels after bulls failed to force a break through overnight highs. 7s
underperformed all day, 2-5 Year sector well bid on recent Rinban dynamics.
- Aussie bond futures had little to no tangible reaction to the latest round of
Q1 GDP partials, given their rear-view mirror nature. Elsewhere, the latest RBA
decision failed to generate any meaningful market response, with the slightly
less downbeat outlook telegraphed and little to rock the boat elsewhere, as the
Bank reiterated its steady MonPol outlook. YM -0.5, XM -1.0.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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