Quiet Start To Asia Session, 30-Year Auctions Eyed Today

Tsys have been happy to hug a tight range so far, with yesterday's low of 131-28 providing firm support, as the dust has settled after the release of much awaited U.S. CPI data. T-Notes trade unch. at 131-29+, while cash U.S. Tsy yields show little deviation from neutral levels. Eurodollar futures trade unch. to +0.5 tick through the reds as we type. PPI, initial jobless claims, 30-Year debt supply & Fedspeak headline the local docket today. Meanwhile, market closures in Singapore, India, Indonesia, Malaysia and the Philippines limit activity in the Asia-Pac space.

• JGB futures have inched higher and last trade at 151.28, 13 ticks shy of Wednesday's settlement. Cash JGB yields are broadly higher, albeit only marginally. Japan's BoP current account surplus shrank to Y2.6501tn in Mar from Y2.9169tn seen in the prior month. Focus turns to the latest Eco Watchers Survey & 30-Year JGB auction.
• Aussie bonds were seen catching up with U.S. peers at re-open, but the initial impetus has abated. YM holds -1.0 tick as we type, while XM has crept higher and last trades -3.5. Aussie yield curve bear steepened in early trade, but yields are off steeps and last trade 0.9-3.8bp higher. Bills trade 1-2 ticks lower through the reds. The RBA are set to but 7-10 Year debt later today.