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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

US TSYS
US TSYS: Little in the way of early reaction to BBG source reports suggesting
"Trump Said to Want Trade Deal With China to Boost Stock Market." This comes
after Tsys finished Tuesday at session lows, with T-Notes sticking to a tight
range, and the curve running flatter.
- Soft 3-Year auction, saw 10th straight tail, with indirect participation
falling and dealer & direct participation ticking up, as well as a multi-year
low for the cover ratio. Auction was largely ignored.
- Several headlines came out after US, China negotiators met for the second day
straight summarising that talks were going well and that they had narrowed
differences on trade. The two sides are still not ready to strike a deal, with
talks continuing Wednesday.
- Focus on Trump's speech at 21:00 ET, although he isn't expected to use a state
of emergency to force through border wall funding. Elsewhere, the Dec FOMC
meeting minutes will hit on Wednesday, along with 10-Year supply. Fedspeak comes
from Bostic, Rosengren & Evans.
- T-Notes last 121.21, U.S. 10-Year cash Tsy yields closed at 2.728%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com