Free Trial

Bull flattening the initial Tsy........>

BOND SUMMARY
BOND SUMMARY: Bull flattening the initial Tsy theme in Asia after Thursday's
range breaks for both 10-Year yields and the 5-/30-Year yield spread, although
that has unwound, with yields now little changed across the curve as we move
into European hours & risk-on flows pick up, albeit with no notable headline
driver. Decent volume for T-Notes again, with the contract pressing to fresh
lows last -0-02+ at 137-23, with ~100K lots changing hands thus far.
- Aussie bond futures held steeper on the back of the SYCOM market moves,
although the curve and outright contracts sit a little off extremes, with YM
unchanged and XM -5.0. The former failed to force its way above 0.30% in implied
yield terms, with many suggesting a break of that level may be the trigger to
get the RBA to step off the sidelines re: ACGB bond buying. Elsewhere, a lack of
heavy duration supply scheduled for next week may have helped XM at the margin.
- JGB futures have edged back towards lows on the broader impulse, last -15,
after a round of solid buying at the Tokyo re-open. Elsewhere, we saw the BoJ
lift the size of its 5-10 Year JGB purchases, with the broader Rinban results
mixed, ultimately providing little support for the space.
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.