• 3.7B worth of 121.00 NY cut expiries expected to attract in early NY trading
  
  
• Mix of offers & stops seen above 121.00; bids seen at 120.50 while offers are in size at 121.25
  
  
• Hourly hammer seen late Wed continuing on its way through market
  
  
• Spot's correlation with 5year UST/JGB 30d log correlation currently at +0.76