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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

JGBS
JGBS: A well received 30-Year auction there, with the sway of an attractive ASW
entry point and the lure of fresh paper via primary issuance (indeed at at the
most attractive outright levels seen since March '19) drawing buyers in, despite
the risk of ongoing curve steepening being well and truly present.
- The cover ratio recovered to print at the highest level seen since around the
middle of '19, after hitting the lowest level seen at a 30-Year auction since
'16 last time out. The tail tightened, with the low price topping dealer
estimates.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com