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EUR

Goldman Sachs: A New Liftoff Strategy

NZD

Holds Marginal Gains After Trade Data

JGB TECHS

(U1) Fades Off 2021 Highs

AUSSIE BONDS

COVID, COVID & More COVID

AUSSIE 10-YEAR TECHS

(U1) Needle Points North

JGBS
JGBS: JGB futures had a look below Tuesday's low in early trade today, but a
negative start for the Nikkei 225 (last -0.6%) has lent support, resulting in
the contract trading 3 ticks higher at writing.
- The cash space sees yields trade either side of unchanged across the curve,
with little in the way of clear direction apparent.
- Focus today falls on 5-Year supply. 5s looks relatively attractive vs. 7s in Z
spread & ASW terms, although 7s offer a much more attractive carry and roll
proposition. Absolute 5-Year yields look rich vs. shorter dated alternatives.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com