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A Touch Softer To Start

AUSSIE BONDS

Aussie bond futures operate around late overnight session levels, after a pullback from the contracts’ respective late Sydney peaks as the BoE noted that it will push ahead with QT in early November, after reports to the contrary did the rounds ahead of Tuesday’s London session.

  • That leaves light bear flattening in play, with YM -2.0 & XM -0.5, while wider cash ACGBs run 0.5-1.5bp cheaper across the curve.
  • Bills are 3-5bp cheaper through the reds, with RBA dated OIS pointing to a terminal cash rate of just over 4.00%, a handful of bp higher vs. late Tuesday levels on the back of the BoE’s QT confirmation.
  • Looking ahead, the Westpac leading index and A$800mn of ACGB Apr-29 supply are due later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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