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AUSSIE 10-YEAR TECHS

(H1) Fragile Outlook

US TSYS SUMMARY

Curve Lower, Flatter as Yields Reverse Off Cycle Highs

US TSY/RECAP

Yield Curve Update

STIR FUTURES

Eurodollars Futures Snapshot

USDCAD TECHS

Consolidating

AUDUSD TECHS

Probes Key Support

The Final Stretch Of '20

US TSYS

A muted re-open for T-Notes as December trading gets underway in Asia, last +0-00+ at 138-06 after a tight Monday session.

  • Tsy yields finished Monday either side of unchanged, with little in the way of meaningful deviation from prior settlement levels evident across the curve come the bell.
  • Markets continued to trade around the cross currents of vaccine positives vs. short-term economic pain, with sizeable month-end extension estimates/Tsy +ve rebalancing flows also in the mix (although the traditional month-end window saw limited price action, perhaps owing the recent holiday interruptions).
  • LIBOR matters were front and centre on the back comments from the IBA, as it noted that it could extend the life of 3-month dollar LIBOR by 18 months vs. its prev. anticipated retirement date of 2021. The IBA also noted that the lives of the 6-month and 12-month dollar LIBOR metrics could also be extended.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com