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Putin: Russia Set To Unveil New Hypersonic Weapons

BOND SUMMARY: T-Notes have pushed higher, taking out yesterday's highs, as S&P
500 e-minis broke below 3,100 and continued to lose altitude. Wider risk-off
feel has remained intact, even as coronavirus case counts in China and Beijing
moderated a touch. T-Notes last trade +0-07 at 138-26, near session highs. Yield
curve has undergone some bull flattening in cash trade. Eurodollar futures last
seen unch. to +1.0 tick through the reds.
- A dire jobs report out of Australia provided a fresh impetus for local FI
space, with XM extending gains to new session highs. YM +0.5 & XM +4.0 as we
type. Yield curve has twist flattened somewhat. Bills sit unch. to +2 ticks
through the reds. The aforementioned labour mkt data was weak across the board,
with a drop in employment coupled with a surprise fall in participation pushing
the unemployment rate higher than expected.
- JGB futures have crept higher on the back of the broader risk-off impetus and
last trades at 152.17, 11 ticks above settlement. Cash JGB yields are lower
across the curve. Focus is on the upcoming 5-Year JGB supply.  
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |