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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

BOND SUMMARY
BOND SUMMARY: Early Asia-Pac hours saw a continued enthusiasm, stemming from
yesterday's optimistic reports from the Covid-19 front. That said, U.S. equity
index futures have slipped into negative territory and core FI have already
bounced off lows. T-Notes sit +0-06 at 138-25, while yield curve has bull
flattened in cash trade. Eurodollars last seen 0.5-1.0 tick higher thru reds.
- JGB futures have fluctuated, last trade at 152.30, -18 ticks vs. settlement.
Yields mostly sit higher, with belly underperforming at the margin. The BoJ left
the sizes of its 1-3, 5-10  25+ Year JGB purchases unchanged today. Early focus
was on gov't support measures for companies & focus turns to final industrial
output data, due later in the day.
- In Australia, YM -1.0 & XM -5.5 (has moved away from earlier lows). Curve runs
steeper, yields sit higher as we type, on the back of broader impetus from
SYCOM. Bills sit 1-3 ticks lower through the reds. RBA's May MonPol meeting
minutes & Australia's weekly payroll jobs & wages data will be under the
microscope at the bottom of the hour.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com