Core FI futures managed to weather.....>

BOND SUMMARY: Core FI futures managed to weather the headwind posed by the

initial risk-on feel, inspired by a strong U.S. NFP report released Friday, an

output-cut deal reached by OPEC+ members over the weekend. They ebbed off highs

later on, but managed to stay afloat, even as U.S. equity index futures & the

Nikkei 225 continued to operate in the green. There was little fresh to rock the

boat beyond weekend news flow. T-Notes sit +0-01 at 137-04 as we type, off the

session high of 137-07. Curve runs marginally steeper in cash trade. Eurodollars

last seen -0.5 to +0.5 tick through the reds.

- It was a session of two halves for JGB futures, with morning gains trimmed

after lunch. The contract last trades at 151.62, +6 ticks vs. settlement. Yields

sit lower across the curve in cash trade. The local data dump took focus today,

with Japan's final Q1 GDP figures revised to show a smaller contraction than

previously estimated, on the back of a stronger capex print (though some

analysts question the reading, e.g. due to a low response rate). Elsewhere,

Japan's BoP current account surplus shrank more than expected, with the data

showing that Japanese investors sold a record amount of U.S. gov't bonds.