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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%

EMERGING MARKETS

Mixed trading is the order of the day today, with SA outperforming and Turkey and Russia locals underperforming their hard currency equivalents.


  • SA: Local curve seen bull flattening -6-8.3bp, with duration outperforming. 10Y yields stalling somewhat around 9.05.
  • Turkey: Local curve trades bear flatter on the day with 3-5Y yields most offered at +4-6bp.
    • By contrast, the USD curve is mostly in the green across the breadth with gains concentrated in 5-10Y tenors.
  • Russia: Local bonds the notable underperformer in the region, maintaining their bear flattening bias: 2Y +4bp, 3Y +3bp, 5Y +6bp – possibly pricing in a more hawkish CBR this week.
    • USD bonds trading little changed to slightly firmer across the breadth: 5Y -2.3bp.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com