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GBPUSD TECHS

Corrections Remain Shallow

FED

Reverse Repo Operation, Inching Higher

PIPELINE

$1.5B Royal Bank of Canada 10Y Launched

COMMODITIES

WTI Remains Bullish, on Track for Cycle High Close

US TSYS/SUPPLY

2Y Auction ​Review: Small Stop

US TSYS
US TSYS: The US Tsy curve has undergone a modest degree of flattening in
Asia-Pacific dealing, extending on Thursday's moves, as the US 10-Year yield
edges away from the heavily commented on 3.00% after the 3.05% pivot level held
firm.
- The shorter end of the curve has been softer to unchanged, while longer dated
paper trades just off of highs in price terms.
- Trade has been fairly limited, as Tsys ignored the BoJ's latest MonPol
decision. As a reminder the BoJ stood pat as expected & dropped the language
surrounding meeting its CPI target around FY2019.
- The Eurodollar strip has followed Tsys, with the white and red contracts
0.5-1.0 tick higher, underpinned by yesterday's lower 3-Month $LIBOR fixing.
- Focus on Friday will fall on US GDP & PCE data.
- T-Notes last at 119.12+, yields: 2Y 2.484%, 3Y 2.621%, 5Y 2.807%, 7Y 2.932%,
10Y 2.972%, 30Y 3.153%