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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

Assessing A Narrow Monday

US TSYS

A narrow open for T-Notes, last -0-02 at 137-04.

  • As a reminder, the Tsy curve steepened a touch on Monday, with 30s finishing 2.5bp cheaper on the day, while T-Notes closed off worst levels as weather conditions on the east coast seemed to limit participation
  • The Treasury's latest round of borrowing estimates were lower than expected, although this is largely attributable to the cash on hand that the Treasury has/projections of a more aggressive drawdown than many expected on that front and the absence of additional fiscal stimulus within the projections.
  • Notable corporate issuance came in the form of a $14bn multi-tranche round from Apple, while Altria followed that up with a $5.5bn multi-tranche, helping apply pressure to the long end.
  • The latest RBA monetary policy decision headlines the regional docket in Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com