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ACGBs Firm Ahead Of RBA Minutes

AUSSIE BONDS

Cash ACGB curve twist flattened after the re-open and yields last sit +0.4bp to -7.9bp, with 3s last at 0.060% & 10s at 1.705%. Futures have caught a bid and YM now changes hands +2.5 ticks, with XM sitting +7.4 ticks (slightly off highs). Bills trade unch. to +2 ticks through the reds.

  • The space has absorbed the impact of overnight Tsy dynamics, while domestic focus turns to Q4 house price index, weekly payroll jobs & wages report as well as the minutes from the latest RBA MonPol meeting.
  • Australia's ANZ Roy Morgan Weekly Consumer Confidence Index fell to 110.9 from 111.9 in the week through Mar 14, with accompanying commentary flagging the potential impact of the imminent expiry of the JobKeeper wage subsidy scheme.

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