Easing Off

T-Notes have faded their initial uptick and last trades +0-01+ at 138-28+, printing fresh session lows. Cash Tsy yields are little changed across the curve. Eurodollar futures sit unch. to +1.0 tick through the reds. E-minis continue to operate in negative territory, as familiar concerns linger.

• Mild topside impetus driving JGB futures early on has dissipated and the contract has erased gains. It last trades at 152.12, 12 ticks above last settlement. Cash JGB yields sit slightly lower across the curve.
• Aussie bond space has ignored Australian CPI data, which was in-line to marginally better than expected. YM +0.5 & XM +3.0 at typing, the latter has eased off highs. Cash ACGB curve has bull flattened, yields sit 0.3-2.7bp lower. Bills last seen unch. to -1 tick through the reds. DJ ran headlines with comments from RBA's Harper, who stressed that the Bank still has firepower to add stimulus if needed.