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Futures were a touch softer overnight given the pressure in the U.S. Tsy space, with YM -1.5 & XM -2.0 come the bell.
- A reminder that late in the local day on Thursday saw Victoria announce a 7-day COVID-driven lockdown, which may have limited some of the net overnight weakness in futures.
- The release of the RBA's SoMP, RBA Governor Lowe's semi-annual testimony in front of the House of Representatives Standing Committee on Economics, A$700mn of ACGB 0.25% 21 November 2025 supply and the release of the AOFM's weekly issuance slate headline locally today.