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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

GILT SUMMARY
GILT SUMMARY: Gilts look to close Friday steady to higher but close to session
lows as markets react to Michel Barnier comments following latest round of
Brexit talks. Curve is flatter as long-end outperforms the short-end.
- 2-yr Gilt yield is -0.3bp at 0.748%, 5-yr -1bp at 1.097%, 10-yr -2.2bp at
1.388%, 30-yr -2.2bp at 1.851% & 50-yr -1.5bp at 1.683% according to Tradeweb.
- There was some good and some bad news from EU's chief Brexit negotiator Michel
Barnier, first the good. Barnier said progress had been made and thinks some
problems can be resolved before end of June and are ready to step up
negotiations. 
- The bad though was pretty awful with the Irish border issue and how to enforce
the withdrawal treaty the 2 major issues. While the UK's "backstop" was not
rejected as a whole but a lot of work was needed and large differences remained.
- Short sterling strip has not materially changed throughout the day, holding
onto its earlier move higher/flatter. Green and blue contracts are 3 to 4 ticks
higher while white contracts are 1 to 2 ticks higher.
- 2-yr swap spreads are 2.2bp tighter while breakevens are touch wider.