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A solid enough auction of a 3-Year.....>

AUSSIE BONDS
AUSSIE BONDS: A solid enough auction of a 3-Year bond future basket constituent
has helped the futures space away from the early lows, with the 3-Year future
last down 1 tick at 97.830, while the 10-Year future last trades 1 tick higher
at 97.095. The domestic 3-/10-Year spread now sits just shy of 0.78%.
- Although the cover was notably lower this time out at 5.03 (prev. 8.54) it was
still decent enough, while a healthy number of bidders 41 (prev. 37) was evident
and has helped support the space.
- US-10 Year futures have also edged higher in early Friday dealing, which will
have added additional support. The AU/US 10-Year spread is currently 0.5bp
tighter, hovering just above 0.
- The bill strip is broadly unchanged, as the RBA Governor Lowe has offered up
little fresh insight in his Parliamentary testimony thus far.
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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