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JGB TECHS

(M2) Correction Extends

US STOCKS

Late Session Rebound

AUSSIE 10-YEAR TECHS

(M2) Corrective Cycle Remains In Play

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

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US VIEW: Credit Suisse analysts said that the "Republican "big-six" tax reform
plan was largely in line with expectations, contributing to a modest
bear-steepening of the Treasury curve. Tax reform is a notoriously difficult
task, and the more likely outcome is some sort temporary tax cuts package next
year."
- They add that "even if a package is passed,our economists believe its impact
on growth will be modest, and we don't envision a near-term "Trump reflation"
trade coming to pass, at least in rates markets."

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