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Outright bond futures continue to......>

AUSSIE BONDS: Outright bond futures continue to operate around the recent highs,
with the AU/US 10-Year spread remaining in negative territory.
- For the 10-Year future technicals suggest that the recovery from dips back
towards the LT bull channel base off 2008 lows looks to be in trouble with H18
remaining capped at the daily bear channel top with key MAs noted above. Bears
now look for a close below 97.2250 to gain breathing room and below 97.1750 to
shift focus back to 97.0037-0450 where 2018 lows and the LT bull channel base
are noted. Bulls now look for a close above the 200-DMA to target 97.5200.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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