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Outperformance In The Belly On Monday

AUSSIE 10-YEAR TECHS

(Z2) Remains Vulnerable

AUSSIE BONDS

Firmer As Sydney Returns, RBA Eyed

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MNI EUROPEAN MARKETS ANALYSIS: Curve Flattening Continues Post-Fed

  • Continued curve flattening was the dominant theme for global FI markets post-Fed
  • The yen was volatile after the BoJ kept its ultra-loose monetary policy settings and dovish forward guidance unchanged. Spot USD/JPY took out the Y145.00 mark on its way to a new multi-decade high of Y145.37, which was followed by a sharp reversal. This raised questions on whether the sharp pullback was driven by an FX intervention or profit taking amid heightened intervention risk. Japan's FX czar Kanda later clarified that the authorities have not stepped in yet, but could conduct a stealth intervention.
  • A marathon of central bank meetings takes centre stage today. Data highlights include U.S. current account balance & jobless claims, while the speaker slate features ECB's Schnabel, BoE's Tenreyro, as well as Riksbank's Floden & Ohlsson.