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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • SAGBs trade a fraction weaker at the open, following on from a broadly firmer session yesterday leading up to the FOMC minutes.
  • Prior to the meeting, yields fell across the breadth of the curve with 10-30Y yields dipping -12.6-15.7bp and the 10Y outperforming after being the most vulnerable in recent weeks.
  • Upbeat trade data out of China also added downside pressure to yields, but has been tempered by mixed CPI & PPI data out overnight.
  • W/w the SAGB curve trades lower across the breadth with the 3m-1Y section -43-53bp lower while 10-30Y yields stand -5-7bp lower on week.
  • 30Y yields face key support in the 10.60-10.70 zone (50-6.18% fibs), while the 10Y faces pivot support at 9.50-9.60.

SAGB Curve W/W