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USDJPY TECHS

Recent Lows Still Intact

AUSSIE 10-YEAR TECHS

(H2) Approaching The Key Bear Trigger

EURGBP TECHS

Fresh Multiyear Lows Once Again

STIR FUTURES

BLOCK: Large 3M SOFR Fly

AUSSIE 3-YEAR TECHS

(H2) Probes Key Support

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EGB/Gilt

BOND SUMMARY

The US presidential election takes centre stage with markets pivoting to a risk-on position which likely reflects expectation of a Biden victory.

  • Gilts have traded lower with the curve bear steepening. The 2s30s spread is 1bp wider. The Dec-20 gilt future trades at 135.80, towards the bottom end of the day's range (L: 135.65 / H: 136.09).
  • Bunds trade in line with gilts. Yields at the longer end are 3bp higher on the day.
  • The OAT curve has similarly bear steepened. Last yields: 2-year -0.7250%, 5-year -0.695%, 10-year -0.3290%, 30-year 0.3675%.
  • BTPs trade close to unch on the day.
  • Supply this morning came from UK (Gilts, GBP4.75bn), Germany (iBund, EUR0.38bn), Austria (RAGB, EUR0.69bn), Belgium (TCs, EUR1.21bn), ESM (Bills, EUR2bn).
  • There were no significant data releases this morning.
MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com
MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com
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