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A Touch Flatter To Start

AUSSIE BONDS

The curve sits a little flatter in early Sydney trade, aided by the failure of U.S. 30-Year yields re: making a clean break through the 2.00% level. YM unchanged, XM +2.5, with swaps unchanged to wider vs. cash ACGBs.

  • Locally, NAB business confidence and SAFA issuance will be eyed on Tuesday, with the latter set to price up to A$1.0bn of a new May '34 line.
  • The latest weekly ANZ-Roy Morgan consumer confidence reading was essentially flat, with ANZ noting that the metric "is consolidating close to its long-run average. This solidifies the recovery from 2020. Any meaningful breakout from here on will have to be on back of strong news/developments. The vaccine rollout in Australia could be the next big trigger, with a successful program possibly propelling sentiment much higher. Of course, difficulties in providing vaccine coverage could have the opposite effect."
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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