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E-MINI S&P (Z1): Key Resistance Exposed


(Z1) Looking For A Break Lower


Effective Fed Funds Rate

AUSSIE BONDS: The space has operated around the closing SYCOM levels in the
early part of the SFE session, with 3-Year Bond futures last trading at 97.725
(-0.5 tick), with 10-Year Bond futures at 97.170 (-3.5 ticks).
- The move has resulted in a steeper domestic curve, with the 3-10 Year yield
differential last 3.6bp steeper at 57.5bp, while the AU/US 10-Year yield spread
is 0.8p wider at -10.1bp.
- The auction of the shortest 10-Year Bond future basket constituent passed
smoothly, with the line registering yet another extremely strong bid-to-cover
ratio at the auction, which is unusual for the shortest 10-Year basket bond,
pointing to persistent demand for the line.
- 3-Month BBSW fixed 0.5bp lower today, with the Bill strip off of session lows,
although they do trade mixed, albeit mostly unchanged to higher.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |