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BOND SUMMARY

EGB/Gilts - Inflation Concerns Stoke Sell Off

US 10YR FUTURE TECHS

(M1)‌‌ Still Testing The 50-day EMA

EQUITIES

Tech Overhang Weighing on European Indices

AUSSIE BONDS
AUSSIE BONDS: Broader risk-on flows surrounding trade truce & North Korean
matters have applied some light pressure to the space early this week, with YM &
XM having a look below last week's lows, although both operate off at worst
levels at writing. YM deals 3.0 ticks lower, with XM -4.5 ticks.
- YM/XM a touch steeper as a result at 42.5 ticks, while the cash equivalent
deals at 37.2bp.
- Bills running 1-3 ticks lower through the reds, although volume remains light.
- Worth highlighting that the Australian AiG m'fing PMI moved into
contractionary territory, printing at 49.4 vs. the prior 52.7.
- The CoreLogic House Price index & Melbourne Institute Inflation reading are
due later today, although focus remains locked on tomorrow's RBA MonPol
decision. OIS price a 75% chance of a cut tomorrow, with IB's pricing a 70%
chance of such a move. Our preview of the decision will follow later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com