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A fresh bid comes into the space.......>

AUSSIE BONDS
AUSSIE BONDS: A fresh bid comes into the space after Westpac lowered its call
re: the RBA's terminal cash rate to 0.50% (prev 0.75%), and frontloaded its call
for the next rate cut to Oct., prev. Nov.
- YM +3.5 ticks, XM +2.5 ticks, as the change in Westpac's RBA call promotes
some light steepening.
- YM/XM at 44.5 ticks, with the cash equivalent at 40.4bp.
- Bills 3-4 ticks higher through the reds with the bulk of the volume evident in
IRU9 through IRH0, owing to the timing surrounding Westpac's view.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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