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10-Year ACGB Yield Hits Levels Not Seen Since 2018

AUSSIE BONDS

Aussie bonds have retreated in early trade, with 10-Year yield running as high as to 2.940%, the highest point since 2018. The curve has bear steepened, with yields sitting 6.2-8.5bp higher as we type.

  • Futures trade lower as well, with YM last -6.0 & XM -9.0. Bills run 3-10 ticks lower through the reds.
  • The space has played catch up with the upswing in U.S. Tsy yields observed overnight, after FOMC's Brainard suggested that rapid balance sheet reduction could begin as soon as next month.
  • Her comments came on the heels of a hawkish tilt in the language of RBA monetary policy statement released Thursday.
  • The auction for A$500mn of ACGB May '30 headlines the local docket today, although China's Caixin Services PMI may also provide some interest.
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HomepageBond Market NewsBulletMarketsFixed Income Bullets

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