Early Risk-On Mood Fades As Results Trickle In

All eyes are on the early results of U.S. elections, with particular focus on Florida, where Trump has taken a marginal lead (and it is worth noting that the state processes mail-in ballots first). T-Notes have shaken off their initial weakness pushed higher as Trump has taken a marginal lead in the Florida count, with the pan handle (Republican stronghold) still awaited. The contract trades +0-04+ at 138-07+. Cash Tsy curve has moved lower, runs flatter. Eurodollar futures last seen unch. to +1.0 tick through the reds.

• JGB futures have moved higher, but still sit 10 ticks shy of last settlement, last at 151.73. As a reminder, Japan was off for a holiday yesterday, so there was an element of catch-up to the downtick at the re-open. Cash JGB yields are marginally mixed, 40s underperform. Japanese MoF will auction 10-Year JGBs later today.
• In Oz, YM -1.0 & XM -4.0, the latter has recouped an earlier slide. Cash ACGB curve has bear steepened on overnight impetus, before slightly unwinding the move; yields last sit 0.4-4.2bp higher at typing. Bills trade unch. to -2 ticks through the reds. U.S. elections steal the spotlight, so just in case local data went under the radar, Australian monthly & quarterly retail sales figures both topped exp.