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No real catalysts apparent in..........>

BOND SUMMARY
BOND SUMMARY: No real catalysts apparent in Asia-Pac trade, with little reaction
to the previously outlined round of MLF injections from the PBoC (see earlier
bullets for more details) and mixed Chinese data. T-Notes held a very narrow
0-03 range, sitting a little shy of yesterday's peak, to last trade -0-03 at
139-10+, with yields 0.1-0.7bp cheaper across the curve.
- JGBs edged higher as equity markets gave back their early gains, with a
moderation in both the offer to cover ratio and spreads seen at the latest 5-10
Year BoJ Rinban ops supporting the contract in the afternoon. The curve has
twist steepened ahead of the previously touted supply deluge.
- Aussie bond futures are a touch lower on the day. YM -1.5, XM -1.0. Little in
the way of notable news for the space, outside of next week's supply, with 2
auctions in the 8-12 Year zone of the curve, and one round of '24 supply slated.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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