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JGB TECHS

(Z1) Downside Pressure Resumes

AUSSIE BONDS

Early Vol. Observed In YM

US TSYS

Flat Restart After Aggressive Twist Flattening

AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

EGBs extend gains as Equities fall

EGB SUMMARY

Rolling position into the December contract has once again led the large volumes in core and semi core EGBs

  • The German long end strip has held onto gains, as US equities saw a move lower led by the Tech sector, in turn limiting the upside for European stocks. Facebook and Apple are again among the sharpest fallers in the S&P500.
  • Roll pace is now seeing: Buxl (85.3%), Bund (69.0%), Bobl (68.0%), Schatz (70%), OAT (71%), BTP (60%), BTPS (58%),
  • Peripherals have stayed fairly mixed and have traded in line with core Govies, and as such are all a touch tighter, with best performer Italy at just 1.3bps.
  • Looking ahead, investors, now await for US NFP tomorrow.
  • Bund futures are down -0.06 today at 176.61 with 10y Bund yields up 0.7bp at -0.468% and Schatz yields down -0.2bp at -0.706%.
  • BTP futures are up 0.04 today at 147.64 with 10y yields down -0.9bp at 0.961% and 2y yields down -0.2bp at -0.145%
  • OAT futures are down -0.08 today at 168.56 with 10y yields up 0.7bp at -0.177% and 2y yields up 0.1bp at -0.622%.
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com