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GBPUSD TECHS

Consolidating And Remains Vulnerable

USDJPY TECHS

Trades Above 107.00

EURUSD TECHS

Bearish Focus

EUROSTOXX50 TECHS

Remains Below Key Resistance

BTP TECHS

Bearish Focus

GILT TECHS

(M1) Stalls At 129.27

US TSYS
US TSYS: Tsys see-sawed in a lower range Wednesday, finishing off of worst
levels, as equities continued to recover from last week's pressure. Multiple
factors at play for the apparent risk-on move included month-end rebalancing
flow, which pressured the space into the close.
- Data picked up: with stronger than exp Oct ADP private payrolls (+227k;
smaller than anticipated Sep down-revision to +218k), Oct MNI Chicago PMI little
weaker than expected (58.4 vs. 60.0 est).
- Decent volume belied rather subdued trade with many close to the sidelines
ahead of Friday's jobs report, next week's midterm elections and FOMC (no change
expected from Fed).
- Two-way flow with better sellers on net, prop and fast$ a/c's were buying
intermediates in the late U.S. morning. Modest corp deal-tied hedging &
swap-tied selling was seen in short to intermediates, with decent two-way flow
in 5s.
- Highlights Thursday are m'fing PMI/ISM surveys.
- T-Notes last 118.15+, U.S. 10-Year cash Tsy yields closed at 3.144%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com