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AU Bonds have continued to ease in.....>

AUSSIE BONDS: AU Bonds have continued to ease in early dealing this week, in
sympathy with U.S. Tsys after following their U.S. counterparts lower on SYCOM
on Friday.
- It is worth noting that NAB will not be following Westpac, CBA & ANZ, and as
such will keep its variable mortgage rate on hold, which added some additional
pressure to rates.
- The domestic 3-/10-Year yield differential has steepened back out to ~58bp,
with the AU/U.S. 10-Year spread last ~-35bp.
- The bill strip last trades 2-4 ticks softer, in sympathy with Bonds.
- 3-Month BBSW fixed 0.11bp higher today.
- Participants await today's A$600mn 2.25% 21 November 2022 Bond auction.
- The AU labour market report and NAB business survey present the major focal
points on the AU docket this week, with RBA's Bullock set to speak later today.
Bullock's speech is titled "the evolution of household sector risks," a key area
of focus for the RBA.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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