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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

CABLE
CABLE: Rate undercut by comments from BoE's Carney, hitting fresh lows at
$1.3051, with bears eyeing next levels of support at $1.3025 and $1.2993.
Highlights of his speech include:
- The bar for changing the monetary policy framework is high, but it is
nonetheless healthy to review it periodically.
- There is sufficient headroom to at least double the August 2016 package of
Gbp60bln in asset purchases a number that will increase with further gilt
issuance. That would deliver the equivalent of around a 100 basis point cut to
Bank Rate on top of the near 75 basis points of conventional policy space.
- Markets are interpreting the speech dovishly, with GBP off against all others
and Gilt futures on the front foot.