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A soft conditions component in the.....>

AUSSIE BONDS
AUSSIE BONDS: A soft conditions component in the latest NAB Biz survey (3 vs.
prev. 11) has put a bid into the space, with YM leading the way higher promoting
some modest bull steepening.
- YM last +0.5 tick, with XM -1.0 tick. The cash 3-/10-Year yield differential
trades at 51.9bp. AU/U.S. 10-Year yield spread last -52.0bp,.
- The soft print has allowed the Bill strip to unwind its earlier, modest
losses, as volume ticks up in the space. Whites and reds last trade unchanged to
1 tick higher on the day.
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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