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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

US SWAPS
US SWAPS: Spds running steady/mixed, spd curve mildly flatter. Recent flow
includes decent fly trade: paying 3s4s5s, receiving 5s6s7s and paying 5s7s10s,
decent rate paying in 5s around 2.9245-.9265% and 3s4s flatteners, real$ paying
long end earlier. Latest spd levels:
* 2Y  +0.25/22.88
* 5Y  +0.09/14.19
* 10Y +0.00/6.69
* 30Y -0.12/-4.50
Wednesday recap: Spds mostly wider by the bell, spd curve flatter/short end
leading move amid late deal-tied paying ($6B BoA 3-parter after $5B IBRD 3Y
fix). Spds had inched off early narrows by late morning on better paying in 10s
around 2.92-.92025%. Earlier flow included receiver in 1s at 2.6325%, ongoing
fly trade, receiver 2s5s9s after mixed fly flow coming into the session
w/receiving 2s3s4s and paying 3s4s5s, 3s4s spd curve steepener.
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com