Trial now
MNI

Test, Please Ignore

EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

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T-Notes -0-00+ at 132-06 after finishing Monday's session a little above NY session lows.

  • The relatively aggressive Asia-Pac flattening of the curve was reversed ahead of NY hours, with equity futures recovering and then pushing higher during NY dealing, allowing the U.S. Tsy curve to steepen on the day. 2s and 3s were little changed at the bell (with 2 rounds of TUU1 block sales witnessed during NY hours, covering a cumulative 11,601 lots), while 30s cheapened by a little over 9.5bp vs. Friday's closing levels. 30-Year swap spreads tightened by the best part of 2.0bp on the day.
  • The broader swathes of Fedspeak (include the pre-release of Chair Powell's Tuesday testimony) revealed little in the way of game changing information.
  • There is nothing in the way of tier 1 risk slated for Asia-Pac hours, so it will likely be a case of headline/flow watching, as well as deciphering the broader macro cues.