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All Eyes On Team Australia

AUSSIE BONDS

Steepening pressure evident to start the week, with YM -1.0 and XM -5.0, as the latter breaks below its SYCOM lows.

  • Tomorrow's local risk events (the RBA decision and federal budget) remain at the forefront of participants' minds, even with the ACT, NSW, South Australia and Queensland observing regional holidays today.
  • Several press reports of note have done the rounds re: budget matters. The Australian has suggested that the government will bring forward A$7.5bn in infrastructure funding to this year's budget, in addition to lifting the country's debt ceiling. Elsewhere, the AFR has suggested that income tax cuts due to take effect in 2022 and 2024 will be frontloaded.
  • Bills unchanged to -2 through the reds.
  • Lower tier data is due on the local docket today.
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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