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Calm Before Storm?

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U.S. Treasuries and JGBs have held tight ranges in early trade, as all eyes are on Wednesday's policy announcement from the Fed, while an Australian holiday limits activity in the Asia-Pacific.

  • T-Notes hold a very tight range ahead of today's monetary policy decision from the Federal Reserve. TYH2 changes hands +0-01 at 128-05 as we type. Eurodollar futures sit 0.5-1.0 tick lower through the reds. Tsy yields trade 0.7-1.0bp lower across the curve.
  • JGB futures have slipped, last trade at 150.92, 4 ticks shy of previous settlement. Cash JGB yields are marginally mixed across the curve. The BoJ have just announced their Rinban purchase offers. Elsewhere, the summary of opinions from last week's BoJ policy meeting provided little in the way of fresh insights.
  • ACGBs are closed in observance of an Australian public holiday.

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