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It looks like the PBoC's decision to...>

BOND SUMMARY: It looks like the PBoC's decision to only partially role some of
the maturing 1-Year MLF, coupled with the decision to refrain from a cut in the
rate applied to the operations, has leant some support to core global FI.
Elsewhere, the minutes from the RBA's latest MonPol decision provided little to
shock, but kept the door well and truly open re: further easing.
- T-Notes have registered fresh highs & last deal +0-06 at 129-08, with yields
2.0-3.0bp lower across the curve. Eurodollar futures sit 0.5 tick lower to 4.5
ticks higher through the reds.
- In Australia YM +5.5, with XM +7.5, leaving YM/XM at 29.0 and the cash
equivalent at 25.0bp.
- Bills run 1-4 ticks higher through the reds.
- JGB futures finished the Tokyo morning session 12 ticks above settlement
levels, with the cash curve experiencing some light bull flattening.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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