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Marginally Cheaper

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Baht Outperformance Trend Stalls

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Correct: 3-Month Bill Auction Results

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Eyeing Thursday Session Highs

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Average 5-Year JGB Auction Internals

JGBS

5-Year JGB supply is digested smoothly, with the low price matching wider expectations (as proxied by the BBG dealer poll), although the cover ratio moderated a touch to print below the 6-auction average which stood at 3.61x. All in all, a fairly non-descript auction that was probably supported by participants putting excess cash to work. 5-Year JGBs and JGB futures show little movement post-supply, with a modest cheapening impetus observed in early afternoon trade on spill over from the previously outlined downtick in U.S. Tsys.

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5-Year JGB supply is digested smoothly, with the low price matching wider expectations (as proxied by the BBG dealer poll), although the cover ratio moderated a touch to print below the 6-auction average which stood at 3.61x. All in all, a fairly non-descript auction that was probably supported by participants putting excess cash to work. 5-Year JGBs and JGB futures show little movement post-supply, with a modest cheapening impetus observed in early afternoon trade on spill over from the previously outlined downtick in U.S. Tsys.