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JAPAN

Japan To Observe Holiday

AUSSIE BONDS

Flattening Extends

JPY

Liquidity Sapped By Local Holiday

AUD

AUD Edges Lower After Volatile Wednesday

JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE BONDS

U.S. Tsys Help Futures To Twist Flatten Overnight

GILTS
GILTS: Today the DMO will hold quarterly investor and GEMM consultation meetings
to discuss issuance for Oct-Dec. The DMO is proposing 2 short, 3 medium, 2 long
and 3 linkers auctions while also consulting on syndications. The Minutes will
be released tomorrow morning.
- Shorts (2 auctions): We would be surprised if the DMO did not auction the
0.625% Jun-25 gilt at both auctions. The DMO has said it envisages at least one
auction for the issue.
- Mediums (3 auctions): Again, we would be surprised if the DMO chose to auction
anything other than the 0.875% Oct-29 gilt. It has said it expects to auction
this issue at least twice.
- Longs (2 auctions): We expect the 1.75% Jan-49 gilt to be issued at least once
and for the second auction to either be another issue of the 1.75% Jan-49 or the
1.75% Jul-57 gilt. The DMO issued no expectations here.
- Linkers (3 auctions): We would expect 1-2 auctions of the 0.125% Aug-28 linker
and one auction of either the 0.125% Aug-41 or 0.125% Aug-48 linker. (1/2)