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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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Asia-Pac trade has provided a particularly tight start for the core fixed income markets that are open, with the aforementioned holidays in China, Japan and South Korea sapping liquidity from broader markets.

  • A lack of tier 1 headline flow isn't helping broader activity.
  • T-Notes -0-00+ at 133-24+, sticking to a 0-02 range, with cash Tsys closed until London hours owing to the aforementioned Japanese holiday.
Aussie bond futures have also lacked a catalyst, with the local COVID situation and geopolitical tensions surrounding last week's submarine deal dominating headline flow, but failing to produce anything in the way of a tangible market reaction. Participants await the latest round of scheduled ACGB purchases from the RBA. YM -1.5, XM -2.5. Longer dated ACGBs also print ~2.5 cheaper on the day in cash trade.