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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

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Decent auction given the circumstances - 1.2bps tail (1.8bp last time), bid-cover a little better than previous auction but weaker than average; primary dealer takeup 18% (in line w average), indirects a little higher than avg at 64%, directs a little lower at 18%.

  • Little impact in the end though yields are off lows and curve a little steeper on the tail.
Curve update:
* 3M10Y -1.353, 145.019 (L: 143.755 / H: 150.765)
* 1Y10Y -1.099, 142.737 (L: 141.726 / H: 148.229)
* 2Y10Y -0.959, 132.273 (L: 131.262 / H: 137.054)
* 2Y30Y +0.322, 201.485 (L: 199.363 / H: 204.871)
* 5Y30Y +0.731, 142.409 (L: 140.476 / H: 143.525)
Current futures levels:
* Sep 2-Yr futures (TU) steady at at 110-11 (L: 110-10.25 / H: 110-11.37)
* Sep 5-Yr futures (FV) up 0.5/32 at 124-5 (L: 123-28 / H: 124-06.5)
* Sep 10-Yr futures (TY) up 1.5/32 at 132-26 (L: 132-10 / H: 132-29)
* Sep 30-Yr futures (US) up 7/32 at 159-0 (L: 157-31.00/ H: 159-07.00)
* Sep Ultra futures (WN) up 1/32 at 189-07 (L: 187-22 / H: 189-26)