Trial now
JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

US TSY FLOWS
US TSY FLOWS: Geopolitical tensions continue to support Tsy futures, near top
end modest overnight range. After a slow start (Japan out for holiday followed
by Obon holidays next week) avg overall volume as China came on-line. Equities
weaker again (emini -3.0, 2434.50), gold firmer (+0.70, 1287.04), oil softer
(WTI -0.25, 48.34).
- Asia, carry-over risk-off bid for rates added to Thu's curve flattening rally,
bank and real$ accts bought 10s and 30s. FX-acct buying as USD weakened.
- London, lagging Bunds, Tsys rates held gains into London hours, modest prop
and fast$ selling in 10s.
- Swaps, spds running steady/mixed, spd curve little flatter, light prop acct
rate paying in short end, expectations for more swappable corp supply next week.
- Eurodollars, modestly higher for the most part, short end a touch weaker
following latest 3M LIBOR set, +0.0059 to 1.3150% (+0.0032/wk). Decent volume in
Dec 1yr midcurve options.