Core FI Markets Edge Away From Lows

Core FI markets have found a little bit of a base in recent trade, with the major U.S. Tsy, ACGB & JGB benchmarks edging away from worst levels of the day. Macro headline flow is virtually non-existent. Meanwhile, regional liquidity is thinned out by the previously flagged Lunar New Year Holidays, with several major Asia-Pac financial centres closed (including China, Hong Kong & Singapore). It would seem that a modest downtick in U.S. e-mini futures has provided support for core FI markets. A reminder that the first RBA decision of ’22 presents the major event risk during Tuesday’s Asia-Pac session. Elsewhere, 10-Year JGB supply provides the only round of notable core FI supply during Tuesday’s Asia-Pac session.