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MYR

Firmer Start

FOREX

AUD Leads G10 Pack, Volatility Subdued

US TSYS

Marginally Cheaper Early On

AUSSIE BONDS

YM Nudges Lower On Lack Of YCT Purchases

RBA

ACGB Purchase Offer Details

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Following German Bund lead initially, sell-off continues, Dec 10Y futures through first support of 132-25.5 (Aug 26 low) to 132-23.5 low, 132-24 last. (10YY climbs to 1.3719% high, Sep 8 lvl).
  • Next support at 132-21.5, Aug 11 low -- a move below the second level support would strengthen a bearish case and signal potential for a deeper pullback and a stronger reversal.
  • Decent volumes, TYZ>605k, position adjustments ahead next week's FOMC (dealers talking up Nov taper annc), tight stops triggered, option and incoming Tsy supply selling adding to move.