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Off Early Highs


The uptick in e-minis & U.S. Tsy yields flagged elsewhere has resulted in an unwind of the early Sydney bid, and more, which leaves YM at unchanged levels, while XM runs 7.0 above settlement. The 10- to 12-Year zone outperforms on the cash ACGB curve. 3-Year EFPs sit a touch narrower, while 10-Year EFPs have seen some notable widening, but haven’t extended beyond the recent range. Local data releases have provided no immediate impetus for the space.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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