Developed FI space has broadly.........>

BOND SUMMARY: Developed FI space has broadly recovered after touching session

lows on the back of the Nikkei 225's look into positive territory and Japanese

Econ Min Motegi's announcement that U.S.-Japan trade talks will start next week.

- T-Notes last trade +0.01 at 123.15+, with U.S. cash Tsy yields trading

0.3-0.7bp lower across the curve and 10-year yield at 2.515%. Eurodollar

contracts are trading unch. to 0.5 tick higher through the reds.

- JGB futures last seen at 152.87, 4 ticks below settlement. Cash yields are

sitting 1.3bp lower to 0.4bp higher across the curve, with the longer end

outperforming. Japan will offer Y1.9tn 5-Year JGBs at an auction later today.

- Aussie bond yields last trade unch. to 1.4bp higher across the curve. YM last

sits unch. at 98.610 with XM trading 1.0 tick lower at 98.110. YM/XM trades

marginally higher at 50.00. Bills last seen 1 tick lower to 1 tick higher

through the reds. As a reminder, the AOFM sold A$150mn of the 2.50% 20 Sep 2030

I/L Bond today, attracting the cover ratio of 5.3067x vs. the prev. 3.3600x.