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US TSYS

Late Risk Appetite Gathers Momentum

USDCAD TECHS

Fresh Bear Cycle Low

GLOBAL

Fiscal Tightening And Yield Curves

AUDUSD TECHS

Bullish Extension

EURJPY TECHS

Consolidating

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BONDS
  • Core bonds have continued their upward trend over the past couple of hours with gilts and Treasury futures joining Bunds higher on the day.
  • Peripheral spreads have been narrowing too but have been given a boost up Lagarde's comments: "While all options are on the table, the PEPP and TLTROs have proven their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves. They are therefore likely to remain the main tools for adjusting our monetary policy."
  • BTP-Bund 10-year spreads are now sitting 2.0bp tighter on the day at 122.4bp.
  • We are still some way away from hitting key technical resistances.
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com

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