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USDCAD TECHS

Fresh Lows Below 1.2062

AUDUSD TECHS

Extends This Week's Gains

JGB TECHS

(M1) Consolidating

EURJPY TECHS

Upside Extension Within Its Channel

US TSYS SUMMARY

Narrow Range Ahead April FOMC Minutes

AUSSIE BONDS
AUSSIE BONDS: Aussie Bond futures have operated in a tight range, with the RBA
leaving its cash rate unch. at 1.5% as exp.
- The RBA statement offered little fresh insight into the Bank's view regarding
the domestic economy. Global inflationary pressures via higher oil prices, wage
growth and the U.S. fiscal stimulus programme were noted in the opening
paragraph. The RBA acknowledged the recent developments re: the domestic labour
market and GDP data, but the central language around the matters were little
changed. The RBA noted that wage growth has picked up a little.
- The domestic 3-/10-Year cash yield differential last trades ~4.0bp steeper at
~65.0bp, while the AU/U.S. 10-Year yield spread last deals at ~-39.0bp.
- On the corporate issuance front the long awaited new Heathrow A$ 2028 line has
been formally announced, with IPT ASW +140bp region. 
- The Bill strip last deals unchanged to a tick softer.
- IBX9 is pricing in ~13.5bp worth of RBA tightening by the end of November next
year.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com