Bear steepening evident in cash Tsy....>

BOND SUMMARY: Bear steepening evident in cash Tsy yield curve, while T-Notes

trade -0-04 at 138-31. Eurodollar futures trade unch. to -1.0 tick through the

reds. E-minis have moved higher, providing a risk-on impetus which has applied

some pressure to core FI. Not that much in the way of major, fresh headlines

seen so far.

- JGBs looked past the latest tweak to the size of the BoJ's 5-10 JGB purchases.

Futures last trade at 151.83, 13 ticks shy of settlement. Yields marginally

mixed in cash trade, with 7s still underperforming. The daily count of new

Covid-19 cases in Tokyo remains >100, which prompted the capital's Governor to

ask residents to avoid unnecessary travel outside of the city.

- Australian YM sits -0.5, with XM -3.0. Yield curve has bear steepened in cash

ACGB trade. Bills last seen unch. to -1 tick through the reds. ANZ released

their job ads data for June, which showed a dynamic 42.0% M/M rebound.