Core FI Face Modest Pressure, E-Minis Tick Away From Lows

T-Notes have edged lower and last trade -0-03 at 137-14, extending their pullback from pre-FOMC highs as e-minis have recovered from their worst levels. Cash Tsy curve has bear steepened a tad, amid relatively light news flow. Eurodollar futures sit unch. to +0.5 tick through the reds.

• JGB futures have eased off and trade at 151.89, 5 ticks shy of last settlement & testing session lows. Cash JGB yields trade marginally mixed, with 2-Year JGB supply coming up today. In local data, the decline in Japanese retail sales was slightly smaller than exp. on a Y/Y basis.
• In Australia, YM trades unch. & XM sits -0.5 (at session lows) as we type. Cash ACGB yields are marginally mixed. Bills trade -1 to +1 tick & mostly unch. through the reds. Australian export price index rose faster than exp. in Q4, while the decline in import price index matched exp. The RBA offered to buy A$2.0bn of ACGBs with maturities of Nov '28 & May '32.