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USDCAD TECHS

Heading South

AUDUSD TECHS

Northbound

EURJPY TECHS

Breaches Key Short-Term Support

US TSYS

Late SOFR/Treasury Option Trade

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BOND SUMMARY
BOND SUMMARY: Jumps in Covid-19 case counts in some U.S. states, Beijing & Tokyo
revived concerns over a second wave of infections, supporting core FI. T-Notes
trade +0-08 at 138-31+, just shy of session highs. Yield curve has undergone
bull flattening in cash trade. Eurodollars sit 0.25-1.0 tick higher thru reds.
- JGB futures have inched higher, but hold a relatively tight range, last
sitting +6 ticks vs. settlement, at 152.13. Cash JGB yields trade lower across
the curve, with the 5-10 Year sector underperforming ahead of today's liquidity
enhancement auction for off the run JGBs with 5-15.5 years until maturity.
6-Month Bill supply is also due.
- In Australia, YM -0.5 & XM +3.5 as we type, while cash trade sees yield curve
bull flatten, as risk-off dynamics described above play out. Bills sit -1 to +1
tick through the reds. Concerns over Sino-Australian tensions remain apparent,
although Trade Min Birmingham noted that the death sentence given to an
Australian man by a Chinese court shouldn't be seen as retaliation in a
bilateral spat. Elsewhere, China's Global Times warned that Beijing could
potentially target Australian iron ore exports.

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