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Speculation surrounding and the........>

BOND SUMMARY
BOND SUMMARY: Speculation surrounding and the ultimate level of the USD/CNY fix
from the PBoC, which came in a whisker below the psychological CNY7.00 mark,
supported global core fixed income in Asia-Pacific hours.
- T-Notes last deal +0-15 at 130-07+, with the yield curve as touch flatter as
the long end modestly outperforms. Decent buying of USU9 164.00 and 164.50 calls
was flagged in early Asia trade. Eurodollar futures deal 2.0-5.5 ticks higher
through the reds.
- JGB futures were supported by the broader flows, which allowed them to extend
on their overnight recovery, although the contract failed to challenge the
recent all-time high, and last deals 19 ticks higher than settlement. The cash
curve witnessed some modest bull flattening.
- Aussie bonds drew further support from monetary policy goings on across the
Tasman as the RBNZ delivered a shock 50bp cut to its OCR, with further dialogue
surrounding work on extraordinary monetary policy measures noted. YM +6.0, XM
+9.0, leaving YM/XM flatter at 33.5. Bills deal 5-6bp higher through the reds.
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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