CREDIT SUPPLY: Lufthansa Perps (LHAGR: JrSub Ba1/BB/BB): Final 5.25%

USD/JPY edges to new daily highs as the e-mini S&P creeps back to flat, having erased a large part of the NVIDIA-tied sell-off in the index - although the stock is still lower by ~1.8% pre-market.

• The 15min candle chart shows USD/JPY again meeting intraday resistance at ~150.70 for a fourth time, having tested, but failed, to break above the mark on the prior three tests. A break here opens Y151.23, but resistance seen stronger into 151.75, the 20-day EMA.
• AUD/JPY remains the biggest mover in G10 today, with today's bounce meeting 97.15 - the 23.6% retracement for the downleg off the November high.
• China headlines have proved key here, which should raise focus on the CEWC later this week, as well as Japan's Tankan survey results on Thursday evening.

• EUR/USD: Dec10 $1.0450(E1.0bln), $1.0465(E1.3bln), $1.0500(E1.3bln), $1.0600-20(E1.7bln); Dec11 $1.0490-00(E2.2bln), $1.0660-80(E2.2bln); Dec12 $1.0550(E1.1bln), $1.0575-83(E1.3bln), $1.0600(E1.1bln)
• USD/JPY: Dec11 Y148.75($1.1bln)
• AUD/USD: Dec10 $0.6500(A$1.1bln); Dec12 $0.6485-00(A$1.5bln)
• NZD/USD: Dec12 $0.6060(N$1.3bln)
• USD/CAD: Dec12 C$1.4230($1.0bln)
• USD/CNY: Dec10 Cny7.3000($1.0bln)

Large EU Bank Block trade, suggest seller, not spread related.

• CAZ4 15k at 146.90.