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JPY

Liquidity Sapped By Local Holiday

AUD

AUD Edges Lower After Volatile Wednesday

JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE BONDS

U.S. Tsys Help Futures To Twist Flatten Overnight

US TSYS

Post-FOMC Twist Flattening

NZD

Heavy Start

BONDS
BONDS: BTP have gone from high of the day to lows of the day now, moving the
Bund/BTP spread from 7bps tighter on the open to just 1bp now. Desk still only
report 2 way price action as we trade within past ranges.
-Curve play so far are mixed. Bear steepen in the UK with 5/30s edging at the
high the day. And seeing similar price action in US Treasuries with 5/30s edging
higher.
*For Germany, small flattening with 5/30 at the low of the day, all in small.