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An uninspiring start to SFE trade,.....>

AUSSIE BONDS
AUSSIE BONDS: An uninspiring start to SFE trade, with little on the docket to
ignite interest. Westpac consumer confidence and ACGB 2.50% 21 May 2030 supply
the domestic highlights, elsewhere, Chinese CPI may generate some interest.
- YM & XM both sit 1.0 tick below settlement levels, with YM/XM at 40.5 and the
cash equivalent at 36.2bp.
- Bills trade 1 tick lower through the reds.
- Worth reminding you of the latest article from RBA watcher McCrann who has
suggested that the combination of recent federal election result, fiscal
stimulus & RBA rate cuts (which were mostly passed on by the big 4 in swift
fashion) gives the RBA some time to breathe, as long as there are no left field
global events, and assuming that next week's Australian labour market data will
not be disastrous.
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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