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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

BOND SUMMARY
BOND SUMMARY: Bonds have been on the front foot this morning, retracing some of
the moves seen in yesterday's risk rally.
- Italian politics is the focus of the day with Prime Minister Conte due to
address the Senate at 14:00BST. A confidence vote or resignation could
potentially follow, which would bring October elections back into focus.
- The market will also be on the lookout for any headlines surrounding US-China
trade, Jackson Hole and Brexit.
- The UK DMO released the Minutes of its consultation meeting with GEMMs and
investors this morning. The details of the consultation will shape the next
quarter of issuance. The DMO also announced a new gilt tender to be held this
Thursday.
- There has been little in the way of significant data this morning with German
PPI and Eurozone construction data the data highlights of a quiet morning.
- TY1 futures are up 0-4+ today at 130-18+ with Bund futures up 0.63 at 178.78
and Gilt futures up 0.40 at 134.78.