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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

US TSYS SUMMARY

Treasuries have traded within Thursday's ranges and on light volumes so far Friday, coming off session highs as Europe traders came in, with equities reversing Asia-Pac losses. As ever, we await developments on the fiscal front.

  • Very little movement in the curve. The 2-Yr yield is unchanged at 0.121%, 5-Yr is unchanged at 0.3782%, 10-Yr is up 0.7bps at 0.9396%, and 30-Yr is up 0.9bps at 1.6891%.
  • Mar 10-Yr futures (TY) down 2.5/32 at 137-25 (L: 137-24 / H: 137-30.5), very light volumes (~153k).
  • Fox's Chad Pergram summed up the state of play earlier: "Work continues behind the scenes on coronavirus bill. Still no bill text. Government funding expires tonight at 11:59:59 pm et. Interim bill likely to avert shutdown tonight. Weekend work likely in Congress to finish up"
  • In Fed speakers, Chicago's Evans speaks at 1100ET (not on econ / mon pol though), Gov Brainard at 1110ET (on "Climate Change and Financial Regulation").
  • Limited data slate, with current account (0830ET) and Conf Board leading index (1000ET).
  • No supply. NY Fed buys 0-2.25Y Tsys for ~$12.825bn.
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com