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ACGBs Richen On Friday

AUSSIE BONDS

ACGBs marginally extended gains through the Asian session, spillover from JGBs which firmed after the BOJs Ueda reiterated previous policy comments supported the space.

  • ACGBs sit ~9bps richer across the major benchmarks. XM and YM and both ticked ~0.1% higher today.
  • RBA dated futures are steady pricing a terminal rate of 4.40% with ~20bps of cuts by Dec 24.
  • There was little meaningful domestic news flow today.
  • Looking ahead, the docket is thin next week with just the RBA's minutes of the November meeting and flash PMIs due. On the supply side A$800mn of 3.5% 2034 bonds are due for auction on Tuesday.

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