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Off Overnight Steeps


The space sits steeper vs. settlement levels given the offshore impulse witnessed overnight, YM +0.5., XM -1.0, with the latter recovering from overnight lows during early Sydney trade as some look to establish cross-market longs vs. U.S. 10s e.g. NAB, as flagged in an earlier bullet.

  • Bills sit a little flatter after the fierce steepening witnessed over the last couple of sessions, printing unchanged to +3 through the reds.
  • Prelim trade data headlines the local docket on Tuesday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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