Aided By COVID Status Change In Queensland
Aussie bonds remain underpinned, with a fresh (modest) bid seen on the back of news that residents of Queensland have been asked to wear masks on public transport and in crowded indoor areas, after the state Premier flagged that the state’s fourth COVID wave has arrived. The COVID warning system in the state has shifted to amber, from green. Cash ACGBS run 7.5-8.5bp richer across the curve, with YM & XM both operating a touch off their respective session highs, as the backend of the curve catches up with the bid in the front end. Bills sit flat to +9 through the reds.