Under Pressure

T-Notes have headed lower, extending the slide seen in the second half of Wednesday, and last trade -0-02+ at 138-23. E-minis have ticked higher, possibly owing to an FT source story re: U.S. allowing a growing number of firms to supply components to Huawei. Cash Tsy curve has bear steepened, with yields last seen unch. to +2.0bp. Eurodollar futures are unch. through the reds.

• JGB futures have wavered below their overnight range. The contract last sits at 152.03, 7 ticks shy of last settlement & testing session lows. Cash JGB yields are marginally mixed. Japanese retail sales data misses expectations, with consumer confidence index due later in the day. Elsewhere, the BoJ is set to deliver its monetary policy decision.
• Australian YM trades -0.5, while XM sits -3.0 and hovers just above session lows after losing some altitude from the off. Cash ACGB curve runs steeper and higher, with yields last sitting 0.1-3.0bp. Bills trade unch. to -1 tick through the reds. In local data, NAB Business Confidence improved to -10 from -15 in Q3.