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Sino-U.S. tensions surrounding U.S.....>

BOND SUMMARY
BOND SUMMARY: Sino-U.S. tensions surrounding U.S. legislative matters re: Hong
Kong dented risk appetite during Asia hours, with a lower LPR fixing from the
PBoC doing little to offset the broader worry.
- The legislative matters provided support for Tsys from the off, with T-Notes a
little shy of highs at writing, last +0-09 at 129-23, while the 5-10 Year sector
outperformed in cash trade. Eurodollar futures sit 0.25-3.0 ticks higher through
the reds.
- Aussie paper also benefited, with YM +0.5 last and XM +4.5, promoting some
flattening of the curve, with YM/XM back to 37.0 after having a brief look above
45.0 last week. The latest round of ACGB 2030 supply was well received, while
local skilled job vacancies fell for a 10th consecutive month in Oct. Bills
print 1 tick lower to 2 ticks higher through the reds.
- JGBs also ticked higher, with futures +13 at writing. Japan's monthly export
data was on the softer side, with further support generated by a solid enough
20-Year JGB auction, which saw a marginal narrowing of the tail when compared to
the prior auction, cover ratio edge higher and the low price topped dealer exp.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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