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An uneventful session for the space,...>

AUSSIE BONDS
AUSSIE BONDS: An uneventful session for the space, with the lead bond futures
contracts sticking to a tight range, with YM 3.0 ticks lower and XM 4.0 ticks
lower at writing, after the contracts followed Tsys lower in U.S. hours. YM/XM
trading 1.0 steeper at 51.00, while the cash 3-/10-Year yield differential
trades at 48.1bp.
- AU/U.S. 10-Year yield spread last at -39.1bp.
- A narrower than exp. AU trade balance had no discernible impact on the space.
- Bills trading 2-4 ticks lower through the whites and reds. RBA Reverse repo
ops saw $550mn worth of 14-Day ops dealt at 1.997% & $1.555bn worth of 80-Day
ops dealt at 2.018%, holding higher after yesterday's uptick.
- Focus falls on the broader risk backdrop ahead of the latest AU retail sales
release & next week's AOFM issuance schedule, both due Friday.
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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