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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 moved back from session lows as equities moved away from
with highs 3-Year bond futures closing at 97.880 (-1.5 ticks), while 10-Year
futures closed at 97.2275 (+1.75 ticks). The yield on the cash equivalents last
traded at 2.092% (+1.5bp) & 2.783% (-2.1bp).
- The domestic 3-/10-Year curve was a little flatter as the 3-Year
underperformed, while this morning's well received auction may have supported
the longer end of the curve. The yield differential last sat at 68.4p (-2.1bp).
- The AU/US 10-Year yield spread edged out to -8.7bp ahead of NFP.
- The short end has continued to face selling pressure following the higher BBSW
fix, with the white & red bill contracts 3-4 ticks lower at one point although
the white contracts closed 1-2 ticks lower as a bid came back in to the space.
Hefty sell side flow had been noted in IRM8 in the early part of the session,
while the outright bond rolls have been active with selling pressure also noted
there.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com