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US TSY FUTURES

BLOCK, Second 2Y Sale

FED

NY Fed Underlying Inflation Gauge (UIG)

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C Sep 27, 2021

FED

NY Fed Operational Purchase

EUROZONE ISSUANCE

EGB Supply For W/C Sep 27, 2021

AUSSIE BONDS
AUSSIE BONDS: Aussie bonds finished the SFE session marginally higher but have
traded lower on the re-open with the 3-Year future last 1 tick lower at 97.920
and the 10-Year future last 2.0 ticks lower at 97.26 as comments from BoJ Gov
Kuroda did little to effect the space. The domestic 3-/10-Year yield
differential is still sub-70bp. White bill contracts are a tick lower
- Comments from the Vice Chair of the Chinese Metals association, stating that
China is among nations likely to retaliate to US measures helped put a bid in
earlier in the session.
- Tsy's underperformance relative to Aussie paper on the back of Kuroda's
comments allowed the AU/US 10-Year yield differential to widen back out to 9bp
after it had narrowed earlier.
- For 10-Year futures bulls will take comfort in support emerging on dips back
towards 97.175. Bulls still need a close above the 200-DMA to hint at a move
back to 97.5200 Dec highs and above 97.3850 2018 highs to confirm. Bears still
need a close below 97.1750 to shift focus back to 97.0037-0450 where 2018 lows
and the LT bull channel base are noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com