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T-Notes Slide Through Wednesday Lows, News Flow Remains Light

BOND SUMMARY

Light news flow seen in early Asia-Pac hours has kept T-Notes trapped within a tight range. The contract trades through Wednesday lows, last -0-03+ at 136-22. Cash Tsy yields sit unch. to +0.9bp, with modest curve steepening evident. Eurodollar futures show little deviation from neutral levels through the reds.

  • JGB futures have edged away from lows and now change hands at 151.69, 5 ticks shy of last settlement. Cash JGB yields mostly sit a tad lower, with an auction for 30-Year JGBs coming up later in the day.
  • Australian YM sits -0.5 & XM sits -4.0 after losing some altitude. Cash ACGB curve runs steeper, yields trade -0.1bp to +5.0bp as we type. Bills are unch. or -1 tick through the reds. Australian trade surplus was narrower than expected, owing to a miss in exports, while NAB Business Confidence recovered to 14 in Q4 from -8 prior. The RBA offered to buy A$2.0bn of ACGBs with maturities of Nov '28 to May '32, excluding Dec '30.
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