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EURJPY TECHS

Off Recent Highs

USDJPY TECHS

Uptrend Remains Intact

GBPUSD TECHS

Back In Its Bull Channel

EURUSD TECHS

Bearish Engulfing Candle

EQUITIES

Stocks Bounce, But Still Off Last Week's Best

FOREX

Havens Offered as Risk Sentiment Repairs

US TSYS
US TSYS: T-Note futures threatening a clean break above yesterday's highs in
early Asia trade +0-03 at 130-13, after going out virtually at best levels on
Monday with yields closing marginally lower across the curve.
- A softer than expected MNI Chicago PMI print was the catalyst behind a sharp
bid in the NY morning, with familiar risks bubbling in the background, keeping
traders cautious.
- A late block buyer of WNZ9 also helped to keep the space bid into the close.
- It must be said that futures volume was low on the final day of September &
Q3, with an uptick in stocks perhaps limiting the space's gains on the day.
- We also heard from Fed's Evans in early London hours. To paraphrase, Evans
told CNBC: "open minded re: doing more on rate cuts. Own expectation is that we
should overshoot on inflation."
- Focus Tues moves to m'fing ISM & speeches from Fed's Evans, Clarida & Bowman.
- Also worth flagging that the NY Fed has reduced the size of tomorrow's
overnight repo operations to $75bn (back from the $100bn they were upsized to
last week) after undersubscription became evident in the last couple of ops.