Free Trial

Bear Flattening Deepens

AUSSIE BONDS

The previously flagged weakness in the space has extended, leaving YM -18.0 and XM -8.0, both hovering a touch above their recent session lows, with the overnight bear flattening pressure extending on the back of offshore matters (namely the much firmer than expected headline and core CPI readings from across the Tasman in NZ). For YM, bears are forcing their way through the triple bottom lodged in Q3/Q419 and now look to the nearby 38.2% retracement of the 2018-2020 rally (99.025, based on a continuation chart).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.