Core FI Futures Inch Lower, ACGB Auction On The Radar

T-Notes have edged lower but Thursday's low remains some way off. TYU1 trades -0-01+ at 131-23+ as we type, with some marginal cheapening seen across the cash Tsy yield curve. Eurodollars last seen unch. to -0.5 tick through the reds. The PCE reading as well as the latest Chicago PMI survey, final UoM sentiment reading and inventories data headline the U.S. docket today, ahead of Monday's Memorial Day holiday.

• JGB futures have been offered and last change hands at 151.49, 9 ticks shy of Thursday's settlement. Cash JGB yields are marginally mixed across the curve, with 5s outperforming. Japan's unemployment rose slightly more than expected in Apr, while core Tokyo CPI printed in line with forecasts. Focus turns to the latest round of BoJ 3-10 Year Rinban ops.
• Aussie bond futures have slipped, YM trades -1.5, with XM last -5.5. Cash ACGB curve has bear steepened, with yields last seen 0.9-5.0bp higher. Bills trade unch. to 5 ticks lower through the reds. The supply of A$1.0bn of ACGB 4.75% 21 Apr 2027 & the AOFM's weekly issuance slate.