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AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

EURJPY TECHS

Strong Bounce

US EURODLR OPTIONS

Late Call Buyer

USDJPY TECHS

Approaching Resistance

Bunds opened stronger but have turned...>

EGB SUMMARY
EGB SUMMARY: Bunds opened stronger but have turned weaker, the Dec18 future off
4 ticks at 159.13. Weakness is focused on the short-end of the cash curve, with
Schatz yields up 0.2bps and 10-Yrs largely flat.
- Italian BTPs are stronger with the 2019 budget remaining the focus. Corriere
della Sera cited sources saying that Fin Min Tria wants to keep the deficit
under 1.6% of GDP next year. PM Conte, Tria, and the two deputy PMs are set to
meet on Monday over the budget, according to Corriere.
- 2-Yr BTPs have rallied 12.0bps at 1.8794%, with 10-Yrs in 1.8bps at 1.468%.
- Supply this morning includes Belgium re-opening four OLOs for a total of
between E3.4-3.9bln: 0.20% Oct-23, 0.80% Jun-28, 1.60% Jun-47, and 2.25% Jun-57.
- Euribor futures are flat so far this morning. Reuters sources piece released
late Friday noted that some ECB policymakers wanted Draghi to strike a more
cautious tone on the economy in this week's policy message.
- EMU final August inflation figures out at 0900GMT, no changes expected (2.0%
Y/Y headline, 1.0% core). Focus later this week turns to the EU's informal
leaders' summit in Salzburg on Thursday.