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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

AUSSIE BONDS
AUSSIE BONDS: CBA have noted that the "AOFM has already announced that the June
'51 will be syndicated before September 30. We think it will be syndicated much
earlier than that. There is a need to get the other syndications done before too
long, particularly the late 2025 bond, which is needed to make the 5Y futures
baskets plausibly 5Y. And, in addition, the long-end market will be
de-stabilised from now until the bond is syndicated. There is little reason to
wait. There has already been a clear steepening of the Australian 10Y/30Y curve
since the announcement of the bond (about 5bp). We expect a fairly small
syndication (by recent standards) of around $A4-6bn, with a price of 13bp over
the Mar-47 (currently an EFP of 101bp)."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com