T-Notes Watch Wavering E-Minis

Headline flow has been relatively sparse and provided no real impetus and T-Notes have taken their cue from a round trip in e-minis, which have now swung to gains. T-Notes last trade -0-00+ at 139-15+ after fluctuating within a 0-03 range. Cash Tsy curve has steepened a tad, with yields last seen -0.3bp to +0.4bp. Eurodollar futures trade unch. to +0.5 tick through the reds. Initial jobless claims, new home sales, another chunky portion of Fedspeak and 7-Year Tsy supply headline in the U.S. today.

• JGB futures re-opened higher and traded through yesterday's high, before sliding off best levels. The contract last sits at 152.22, just 1 tick above settlement. Nothing in the way of tier-1 data on the Japanese calendar today, with focus falling on 40-Year JGB supply.
• Aussie bonds have been rangebound. At typing, YM trades +0.5 & XM -1.0 after slowly inching lower. Cash ACGB yields are marginally mixed across the curve. Bills are unch. to +1 tick through the reds. Australian Treasurer Frydenberg has given a number of interviews this morning and speaks at typing. The official noted that the government's economic strategy will focus on a jobs-led recovery, while pointing to the negative impact of recession on various labour market indicators.