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EQUITIES

E-Minis Flat On The Day

AUSSIE BONDS

AOFM Weekly Issuance Slate

CNH

Redback Hugs Tight Range

AUSSIE BONDS

ACGB Jun '31 Supply Well Received

CHINA PRESS

China Bond Sales in Hong Kong Boosts City's Status: Journal

CHINA
CHINA: The correlation between Chinese interest rate swaps and local stocks
looks set to increase after a three-week period of divergence, which should see
rate expectations edge lower or stocks find some support. 
- The 21-day rolling correlation between the CSI300 and the 2-year interest rate
swap is currently -0.55, even as the 12-month correlation remains elevated at
0.93. 
- A break above down trendline resistance on the CSI300 which comes in at 3300
would be a potential trigger for stocks to catch up with higher rates.
Conversely, a break below the 55-dma at 2.9046% in Chinese 2-year swaps could
trigger rates to 'catch down' to recent equity weakness.