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USD

Sees broader base buying, led by risk

US TSY OPTIONS

BLOCK, Oct 5Y Puts

BUNDS

2s/10s steepest since

US TSY OPTIONS

Background on Large 5Y Put Buy

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RBA Governor Lowe disagrees with a suggestion that the RBA's move to continue with its already announced tapering plans (which will kick in during early to mid-September) resulted in effective monetary tightening, given broader expectations for a delay to the taper. He pointed to the previous loosening of monetary policy and what that has done in net terms, as well as where monetary policy is in relative terms.