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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

A late rally in futures took the.......>

AUSSIE BONDS
AUSSIE BONDS: A late rally in futures took the space away from Sydney lows after
contracts followed the whim of broader risk appetite for most of the daytime
session, as Tsys and Coronavirus matters dictated flow. Truth be told, there was
little to drive the late bid, perhaps some front running of month-end flows
given the earlier, (very) light dip? Domestic data saw no real reaction, even
with a pretty hideous round of completed construction work data evident, which
got the Q4 GDP partials underway on a softer footing. The latest ACGB auction
from the AOFM was well enough received given the recent outright richening.
Semis saw QTC price A$1.25bn of new July 2034 paper at EFP +85 (mid-high in
guidance range) and NSW T Corp launch new March '33. Corporate issuance saw WSO
Finance mandate for potential A$ issuance.
- YM +2.5 and XM +1.0 come the close, still shy of the recent highs.
- Bills finished 2-4 ticks higher through the reds.
- Flow wise, the standout was a round of IBH0 lifts, which took place over a
couple of price levels and over a couple of clips.
- Q4 private sector CapEx is due tomorrow, as GDP partials continue to roll in.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com