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All About Month-End

AUSSIE BONDS

Month-end flows were in the driving seat for Aussie bonds, with the long end outperforming in cash trade on the back of the huge month-end extensions stemming from the large syndication of the new ACGB Jun '51 (as we highlighted earlier this week), providing further steam for some of the strategists recommendations issued earlier this week.

  • ACGBs generally a touch off richest levels with YM unchanged and XM +3.0.• No movement for the space on the back of local data, nor on the Chinese official PMI readings.
  • Speculation re: deeper lockdowns in Victoria also did the rounds after a call between PM Morrison and State Premier Andrews late Thursday.
  • The AOFM provided a very vanilla issuance slate for next week.
  • Cash markets will be closed on Monday owing to the NSW state holiday.
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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