[MARKET ANALYSIS] Fixed income benchmarks hold onto Tuesday's losses, while JGBs see inversion at the long end

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Further activation of sirens in Bahrain

Iranian Parliament Speaker Ghalibaf says the US has violated major parts of the MoU, citing US attacks on southern Iran, reinstating oil sanctions and threats of further strikes as MoU violations

[MARKET ANALYSIS] Fixed income benchmarks hold onto Tuesday's losses, while JGBs see inversion at the long end

The RBNZ hikes the OCR by 25bps to 2.50%, as expected; some further reduction in monetary stimulus is likely to be required to return inflation to the 2% target mid-point

Iran's top joint miliary command says Iran will give a crushing response to America's aggression and terrorist action, and under no circumstances will they allow them to interfere in the affairs of the Strait of Hormuz and its management

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  • UST Futures oscillate in a narrow 109-02+ to 109-05+ range, as energy prices consolidate after crude futures surged over 5% in Tuesday’s trade following the revocation of Iran’s oil waiver and US threats, which then resulted in strikes on Iran. 
  • Bund Futures, in tandem with USTs, trade in a tight 14-tick range. This comes ahead of a 10-year Bund auction, in which Germany is to sell EUR 6bln 3.00% 2036 Bunds. With the recent rise in yields, this could bring in extra demand for German debt, as seen with the US 3yr auction on Tuesday.
  • JGB Futures also trades on a slightly softer footing but in narrow ranges. Japanese yields are reaching highs not seen since the 1990s, with a slight inversion at the long-end of the curve.

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