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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

FED
FED: April 30-May 1 FOMC Minutes
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- Members said patient approach could be appropriate 'for some time'
- Participants generally agreed that patient approach remained warranted
- Many participants said PCE price dip likely 'transitory'
- A few thought if econ evolved as expected, would need to firm policy
- Staff suggested tweaking ON RRP rate before another IOER cut
- A few said resource utilization may lower than unemp rate suggests 
- Several felt risk inflation expectations could anchor below 2% 
- Number of participants said risk, uncertainties had moderated
- Some said risks to real GDP have decreased, but some still remain
- Expect to begin strategic framework discussion in second half 2019
- Discussed long-run portfolio options, came to no conclusions
- Shorter-term portfolio would imply lower fed funds rate
- Said decision regading composition not need to be made for some time