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JGBS

A Muted Morning

CHINA RATES

China Repo Rates Fall on Tuesday

AUSSIE SWAPS

RBC: Receive 1Y1Y Vs. U.S.

BTPS
  • RES 4: 152.00 Round number resistance
  • RES 3: 151.66 Bull channel top drawn off the Sep 8 low
  • RES 2: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 1: 150.46 High Oct 16 and the bull trigger
  • PRICE: 149.43 @ Close Oct 19
  • SUP 1: 149.01 Low Oct 15
  • SUP 2: 148.72 20-day EMA
  • SUP 3: 147.32 Low Sep 28 and key near-term support
  • SUP 4: 146.98 Low Sep 22

BTPS outlook remains bullish despite yesterday's pullback. Last week's gains resulted in the contract extending gains into uncharted territory, maintaining the bullish price sequence of higher highs and higher lows that defines an uptrend. Resistance and the bull trigger is located at 150.43, Oct 14 high. Initial support has been defined at 149.01, Oct 15 low. A break of this level is required to signal scope for a deeper corrective pullback.