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ACGB Jun-35 Supply Goes Well

AUSSIE BONDS

Firm demand at the latest round of ACGB Jun-35 supply sees the weighted average yield print 1.13bp through prevailing mids and the cover ratio top the 4.50x mark as the outright yield levels on offer, potential for an imminent pause in the RBA’s hiking cycle and cheapness in a micro-RV sense (despite incoming supply burden) support takedown. No reaction in cash trade/XM futures post-supply (a reminder that the line does not form part of the XM basket, yet).

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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