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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%

CHINA RATES
CHINA RATES: Chinese swaps are showing some bounce potential in line with the
stabilization in equity markets, with the 1-year swap currently trading at
2.8750% and threatening to break above steeply sloping downtrend resistance at
2.9000%. 
- As policymakers look to boost fiscal spending in the second half of the year
and rely less on monetary policy, this should create the fundamental backdrop
for a drift higher in rates. 
- However, with the 120-day rolling correlation between 1-year swaps and the CSI
300 at a near-record high 0.92, the performance of the equity market is likely
to dominate rate movements in the near term.