Trial now

Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%

*Clarifies the number of virus cases...>

BOND SUMMARY: *Clarifies the number of virus cases confirmed today & in total*
Coronavirus news has lifted core FI a little, as Japan confirmed further 41
cases (61 in total) of the disease at the cruise ship anchored in Yokohama.
There are ~3,700 crew & passengers aboard. One passenger has been said to be in
a serious condition.
- T-Notes last trade +0-02 at 130-20. Yields last seen 0.8-1.0bp lower in cash
trade. Eurodollar futures sit 0.5-1.0 tick higher through the reds. Fed Vice
Chair Quarles assessed the current MonPol stance as appropriate.
- JGB futures trade at 152.55, 14 ticks above settlement. Yield curve has bull
flattened. Little reaction seen to the local earnings/ spending data & a round
of 1-10 Year JGB Rinban ops, during which the BoJ left all purchase sizes unch.
- Turning to Oz, YM trades +4.0 & XM +4.0 at typing. Cash yields sit 3.9-4.2bp
lower across the curve. Bills 1-6 ticks higher through the reds. RBA Gov Lowe
has wrapped up his semi-annual parliamentary testimony, but provided little new.
The AOFM released weekly issuance schedule, summarised in an earlier bullet.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |