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US TSY OPTIONS

10Y Vol Sale

EURUSD TECHS

Remains Below Recent Highs

COMMODITIES

Oil Up As Saudi Raises Prices, Omicron Fears Subside

EQUITIES

Stocks Solid as South Africa Data Better Than Feared

US TSY FUTURES

Extends Bear Steepening

OPTIONS

German Puts, Feb Expiries

BOND SUMMARY
BOND SUMMARY: Headline flow was mixed during Asia hours, in terms of impact on
risk sentiment. The latest uptick in Coronavrius cases/deaths, as well as the
U.S. raising the warning level re: citizen travel to China i.e. not to travel to
China, dented risk appetite, while the Chinese PMIs & the Senate seemingly being
on track to acquit President Trump re: impeachment, assuaged some of the worry.
- This leaves T-Notes off of overnight session lows, but still -0-09+ ticks
lower than settlement at 131-00+, curve has twist flattened. Flow wise, 1x2 TY &
US put spread expressions were lifted across several blocks.
- JGB futures filled the opening gap lower then meandered along within their
early session range, last +7. Curve has twist steepened, with the long end under
pressure, likely owing to fairly limited month-end extension flows. Local data
was mixed when released earlier.
- Australian bonds took their impetus from the broader risk backdrop, which
leaves YM & XM 0.5 tick below their respective settlement levels at writing. The
AOFM's weekly issuance schedule revealed that a A$2.5bn tap of ACGB 2032 1.25%
21 May 2032 is scheduled for Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com