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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

AUSSIE BONDS
AUSSIE BONDS: The space benefited from the ratcheting up in U.S.-China trade
tensions that was seen on Wednesday, moving in lock step with U.S. Tsys.
- The domestic 3-/10-Year yield differential continues to oscillate around 55bp,
while the AU/US 10-Year yield differential sticks to the low -20bp region.
- Bill strip activity has been light thus far, with the white and red contracts
virtually unchanged on the session. 3-Month BBSW fixed some 2.2bp lower today at
~2.02%.
- Focus remains on the issuance of the new 21 May 2041 Bond due next week, and
dynamics in the funding space.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com