Aussie bond futures finished overnight trade a little above the base of their respective post-Sydney ranges after largely tracking the impulse from U.S. Tsys (see earlier bullet for more colour on Tsys). YM & XM have nudged higher at the re-open, with YM & XM last dealing 0.5 above their respective settlement levels, shrugging off the previously outlined timeline re: the impending Biden-Xi phone call. Bills run little changed to 1bp lower through the reds when compared to yesterday’s settlement levels. There isn’t much in the way of meaningful local risk events, at least on the economic calendar, to drive price action on Thursday, which will leave the ECB, BoJ, Italian political matters and Nord Stream situation at the fore over the next 24 hours or so.
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