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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

BOND SUMMARY
BOND SUMMARY: White House Advisor Navarro's own take on Chinese whispers,
surrounding comments where he appeared to deem the Sino-U.S. trade deal as
"over", was the only game in town in Asia-Pac hours. The initial round of
comments drove risk-off market flows, before pushback from Messrs Navarro,
Kudlow and Trump re: what was meant by the comments/denial that such a statement
was true allowed risk to recover. This has generally biased core FI markets
lower in the second half of the Asia-Pac session, with news flow light
elsewhere.
- T-Notes unchanged at 138-22+ at typing, with volume nearing an impressive
200K, while yields sit unchanged to 0.7bp richer across the curve.
- The Aussie curve has been a little more biased towards steepening during
Sydney hours, perhaps in reaction to Monday's risk-on price action in NY hours,
with some A$ corporate issuance also in the mix. YM -1.0, XM -4.0.
- JGB futures hover around unchanged levels, with outperformance in the shorter
end/belly allowing some twist steepening of the cash curve.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com