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AUSSIE 10-YEAR TECHS

(H1) Fragile Outlook

US TSYS SUMMARY

Curve Lower, Flatter as Yields Reverse Off Cycle Highs

US TSY/RECAP

Yield Curve Update

STIR FUTURES

Eurodollars Futures Snapshot

USDCAD TECHS

Consolidating

AUDUSD TECHS

Probes Key Support

AUSSIE BONDS

The curve has run steeper in early Sydney trade, with some weakness seen in XM over the last hour or so, YM -0.5, with XM -2.5. Weakness could a result of month-end support evaporating, with talk doing the rounds re: crowded longs in the contract through 99.000. We have flagged interest in longs below the psychological level in recent sessions. Bills unchanged to -2 through the reds.

  • On the news flow side Sino-Aussie tensions continue to bubble, whether that be via Chinese probes into Australian wine exports, Huawei pulling back on sponsorship in Australian sport or the detainment of an Australian journalist in China. Still, these tensions are seemingly having little impact on Aussie financial markets.
  • The RBA decision headlines the local docket today (no change expected, see our preview for more detail). Elsewhere, building approvals, CoreLogic house prices and the latest round of GDP partials will hit on Tuesday. Manufacturing PMIs have been and gone, with no tangible impact.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com