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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

US TSYS SUMMARY
US TSYS SUMMARY: After squeezing higher at start of Asian session Treasuries
have traded sideways with the TYM8 future contract trading in a tight 2+ tick
range. US 10-yr Tsy yield last 1.1bp lower at 2.964% with the curve slightly
flatter.
- The 2-Year sector is underperforming ahead of supply due later on Tuesday.
- Sources highlighted better buying in the intermediaries in early Asia cash
dealing, although trading was somewhat limited following a softer than expected
headline Australian CPI release lending a modest degree of support to the space.
- In the European session Treasuries initially got a lift from soft German IFO
data but have since faded back to lower range as Bunds come under pressure head
of Italy, German and Finish bond supply
- The Eurodollar strip has traded in lacklustre fashion, with the white & red
contracts steady to 0.5 tick lower while greens and blues are steady to 1 tick
higher.
- Swap spreads are mixed with 2s and 5s circa 0.3bp wider, while 10s and 30s are
little changed.