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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

EURJPY TECHS

Strong Bounce

AUSSIE BONDS
AUSSIE BONDS: Aussie bonds sit around 1.5 ticks off of best levels with 3-Year
futures at 97.910 (+3.0 ticks), while 10-Year futures last trade at 97.215 (+2.0
ticks).
- The space moved higher on news that Gary Cohn was stepping down as US NEC
Chair & that the US is considering applying trade tariffs on China. Bonds then
took a fresh leg higher on a decent enough auction of a 10-year futures basket
constituent (although the cover ratio moderated this time out) & soft domestic
GDP data, although the miss was flagged by RBA Gov. Lowe in an earlier address
(which offered little new on the MonPol front).
- The domestic 3-/10-Year yield differential last trades at 73.1bp (+2.0bp),
while the AU/US 10-Year spread now sits slightly tighter on the day at -5.7bp.
- The short end has edged higher outside of the front 2 Bill contracts, with the
remainder of the whites and red 1-2 ticks higher.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com