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JGB TECHS

(M2) Correction Extends

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Late Session Rebound

AUSSIE 10-YEAR TECHS

(M2) Corrective Cycle Remains In Play

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

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Iron Ore Rebounds

AUD

AUD supported by a rebound in iron ore, prices have rebounded back over $200/ton after slipping last week. The increase is attributed to a rise in crude steel output from China. China statistics bureau figures showed output rose 13.4% in April to 97.85m tons, while steel products output rose 12.5%. The rise in output figures shows that the industry is still going strong despite an attempt to reign in usage on pollution concerns.

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