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Risk-On Feel Remains


Japanese MOF sells Y4.9024tn 3-Month Bills:


Virus Continues To Spread In Jakarta


Upcoming Lowe Appearance Postponed

US TSYS: Tsys have ticked away from closing levels in early Asia-Pacific
dealing, but still operate below settlement after a flurry of late selling
Wednesday which was linked to a TYZ8 block seller and the bid in U.S. equities.
- Yields have edged lower across the curve, after the flattening that was
observed Weds, although a buoyant session for regional equities has limited any
fall in U.S. yields, with sources reporting better sellers in a limited volume
- Notable options flow: TYZ8 118.00/118.50 call spread 3.0K given at 0.10.
- Worth noting that Japanese investors purchased the largest amount of U.S.
sovereign bonds (on a monthly basis) in 2 Years during September according to
the latest Japanese BoP data, as the uptick in U.S. Tsy yields drew Japanese
investors in (likely on an unhedged basis).
- Focus now falls on today's FOMC decision, with no change exp. & most looking
for a hike in December, eyes on language re: the economy, while most will look
to the minutes for any discussion re: IOER/and floor/corridor system debate.
- T-Notes last 117.27+, U.S. 10-Year cash Tsy yields last 3.228%.
MNI London Bureau | +44 0203-865-3809 |