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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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  • Core bonds have drifted higher, led by Bunds, and providing some relief to equities as ED/ER/SS strips move higher with less hikes being priced into markets.
  • US PPI headlines the calendar for today with a couple of central bank speeches worth watching too - Tenreyro and Mann from BOE, and the Fed's Bullard, Bostic, Logan, Daly and Harker.
  • There's been some stabilisation in the long-end of the US curve with 10s30s up around 1.7bp on the day while gilt/Bund 10s30s are marginally lower than yesterday, but also showing tentative signs of stabilising.
  • TY1 futures are up 0-5 today at 131-12 with 10y UST yields down -0.2bp at 1.536% and 2y yields down -0.6bp at 0.353%.
  • Bund futures are up 0.16 today at 169.10 with 10y Bund yields down -1.6bp at -0.145% and Schatz yields down -0.3bp at -0.695%.
  • Gilt futures are down -0.03 today at 124.81 with 10y yields down -1.1bp at 1.075% and 2y yields down -3.2bp at 0.537%.