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EURUSD TECHS

Maintains A Bullish Tone

EQUITIES

Tech Bounce Saves NASDAQ Blushes

COMMODITIES

Oil Erases Early Losses on Supply Scramble

Issuance Success And Shenanigans

ASIA RATES

Thin volumes and fairly muted moves are the name of the game heading into LNY. Broad risk on tone was evident in Asia as markets assess hopes for a US stimulus deal.

  • CHINA: The PBOC helped reassure markets saying its policies would remain stable yet flexible in its quarterly mon pol report, a net CNY30bn OMO injection also helped assuage some fears. Overnight repo rates fell around 15bps to 1.75%.
  • INDONESIA: Cash yields are mostly higher, selling heaviest in the belly. The finance ministry sold sukuk bonds and received bids for IDR 26.1tn against an indicative target of IDR 12tn.
  • SOUTH KOREA: MOF conducted its first 2-year auction, the sale was strong and sparked some buying in the short end which helped steepen the curve slightly. Futures are within yesterday's range but higher on the day despite the broad risk on tone in the region.
  • INDIA: Sovereign Indian bonds decline after the increase in weekly debt supply overshadowed the RBI's debt-purchase support announcement. There will be two additional auctions held this week on Thursday and Friday.