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Aided By Stabilisation In U.S. Tsys

AUSSIE BONDS

The stabilisation in U.S. Tsys has spilled into Australian debt after the early Tsy-related weakness in Sydney dealing. That leaves YM -4.5 and XM -6.5 as of typing, with lower tier local data having nothing in the way of notable impact on the space. Cash ACGBs run 2.5-6.0bp cheaper across the curve, with 10s providing the weak point.

  • There hasn’t been anything in the way of meaningful macro/local headline flow since the re-open.
  • Note that YM & XM bears have failed to force the respective contracts to anywhere near key support levels (late October lows for both).
Bills run 1-9 ticks lower through the reds, operating on light volume.
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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