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EURJPY TECHS

Off Recent Highs

USDJPY TECHS

Uptrend Remains Intact

GBPUSD TECHS

Back In Its Bull Channel

EURUSD TECHS

Bearish Engulfing Candle

EQUITIES

Stocks Bounce, But Still Off Last Week's Best

FOREX

Havens Offered as Risk Sentiment Repairs

JGBS
JGBS: JGB futures eased overnight, losing 19 ticks vs. Tokyo settlement, as the
BoJ trimmed the lower and upper limits of its purchase bands for 3-25+ Year
Rinban operations in its October Rinban outline, while it lifted the lower and
upper purchase limits of its 1-3 Year operations. As a reminder, this came after
the BoJ lifted the size of its 1-3 Year Rinban purchases & cut the size of its
3-5 Year Rinban purchases on Monday.
- This reaffirms the Bank's desire to steepen the yield curve, and was reflected
in market pricing on Monday.
- The BoJ's Tankan survey will be scrutinised today, with a particular focus on
matters surrounding CapEx plans. Elsewhere, the latest labour market survey
revealed a downtick in the unemployment rate.
- Also worth remembering that Japan's heavily documented sales tax hike goes
into effect today.