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Bland 5-Year Auction


Consumer Confidence Data Take Focus


The Japanese MOF sells Y2.0327tn 5-Year JGBs:


The Japanese MOF sells Y2.8069tn 6-Month Bills:


Inflation Data Under Scrutiny


Crude Registers Fresh Highs For The Week

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  • Volumes remains on the poor side and pretty dreadfull in the US, when you consider that Bund trades more then Tnotes, and the 10yr trades ~257k lots (at the time of typing).
  • As noted, besides the ECB, we get US advance GDP on Thursday, and PCE deflator on Friday for inflation.
  • Although looking at the latest comments from Fed Clarida, members might look beyond those data, but the street and Economists will still be taking notes.

Low turnovers are also reflected in FX vs the 5d averages:

  • EUR 32%
  • GBP 28%
  • JPY 29%
  • AUD 35%
  • CAD 21%
  • CHF 35%
  • NZD 25%
  • NOK 3%
  • SEK 35%