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USDCAD TECHS

Lower And Through Support

US TSYS SUMMARY

Risk Appetite Resumes

AUDUSD TECHS

In A Range

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Aside from tight stops getting triggered on the rally in long end today, curve steepener unwinds contributing: TD Securities reports they are taking off a 5s30s steepener as well as 9Y TIPS BE position. TD explains:
  • Reflation trades suffered a significant setback after the Fed delivered a hawkish message at the June FOMC — raising the 2023 dots, upgrading the SEP, and sending a message that tapering discussions had begun. This more hawkish message has led to a significant paring of reflation trades, with short covering exacerbating the moves.