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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

US TSYS
US TSYS: The space saw a pickup in activity on the back of a SCMP source piece
which noted that "the U.S. and China have tentatively agreed to another truce in
their trade war in order to resume talks aimed at resolving the dispute." As
mentioned elsewhere, while the SCMP piece revealed little new (very similar to a
BBG sources piece earlier this week), the market reaction reiterates the
relatively pessimistic expectations heading into the G20 summit, with bonds
coming under pressure as result. A bounce back in Chinese industrial profits
will also have aided sentiment. T-Notes last -0-02+ ticks at 127-16+, while the
curve saw some light flattening. Space moved back from overnight lows after the
initial sell off, potentially as market deemed the SCMP piece "old." A 15.0K
block buyer of TYU9 helped. Elsewhere there was a 20.0K block buyer of the FVU9
117.75/117.25 put spread, seller of FVU9 117.00 puts and a buyer of the TYQ9
128.75/129.50 1x2 call spread. Eurodollar futures 0.5-2.0 ticks lower thru the
reds. The EDU9 97.875/97.750 put spread saw some light activity.
- 7-Year supply & the third reading of Q1 U.S. GDP provide the highlights today.
With the build up to the G20 summit also eyed.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com