On The Lookout For New Catalysts

T-Notes are back from highs, as e-minis have ticked off worst levels, and last trade +0-00+ at 139-02, after holding a 0-03 range. Lacklustre headline flow, with little beyond commentary surrounding U.S. Pres Trump's move to pause fiscal talks with House Democrats on the wires, and a national holiday in China have limited activity thus far. Cash Tsy yields sit unch. to +0.7bp across the curve, while Eurodollar futures trade unch. to -1.5 tick through the reds.

• JGB futures slid off early highs before picking up a fresh bid; resultant round trip took them to 151.94, 4 ticks above settlement. Cash JGB yield curve has bull flattened a tad. There was little of note in BoJ Gov Kuroda's speech this morning and focus moves to the BoJ's 3-5 Year Rinban ops.
• In Australia, YM +3.0 & XM +4.0 as we type. Cash ACGBs trade 3.0-5.0bp lower across a flattened curve. Bills running unch. to +2 ticks through the reds. An auction of A$2.5bn worth of ACGB 21 Nov '31 and ABS weekly payroll data were the highlights on the Australian docket today, with local news flow revolving around the Federal Budget/RBA after yesterday's showing from "Team Australia".