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Soft Chinese data, coupled with........>

BOND SUMMARY
BOND SUMMARY: Soft Chinese data, coupled with disappointing earnings from tech
giants Alphabet & Samsung Electronics provided a modest bid for the major global
fixed income assets overnight, with liquidity hampered by the ongoing Japanese
holiday.
- T-Notes operate around session highs, after sticking to a tight range with the
cash space closed. Contract last trades at 123.20+, 10-Year cash Tsy yields
closed at 2.525%. Eurodollar futures trade unchanged to 3.0 ticks higher through
the reds. Also worth highlighting that the U.S. Tsy revealed lower than exp. Q2
borrowing requirements late Monday.
- Aussie bond futures edged away from the SYCOM lows on the aforementioned
factors, and also managed to draw support from month-end flows, with Morgan
Stanley alluding to larger than usual month-end extensions for the space. YM
last +0.5 tick, with XM -1.5 ticks. YM/XM trades at 54.5 ticks, with the cash
equivalent at 50.0bp. Bills trade unchanged through the reds.
- German fixed income futures experienced a delayed open, owing to technical
issues for Eurex. Schatz -0.5 tick, Bobls unch., Bunds +5 ticks.
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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