May 12, 2022 06:42 GMT
- SAGB yields open slightly higher this morning as weaker global risk sentiment filters through from the APAC session.
- Yesterday’s session saw the curve shift lower across the breadth with 5-30Y yields falling -13.5-16.1bp on the day with the 30Y most bid.
- W/w, however, the curve remains in negative territory with yields +4-10bp higher over all tenors following a turbulent post-FOMC period.
- Yields moved lower following US CPI, but may give back gains if markets become increasingly concerned by a hot PPI print today.
- Support in the 10Y is defined at 10.393 & 10.297 and 30Y support is seen at 10.978 & 10.80.
SAGB curve w/w