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AU Bonds tracked U.S. Tsys.............>

AUSSIE BONDS: AU Bonds tracked U.S. Tsys overnight, largely driven by Brexit
related news flow, and have operated in a tight range in early dealing, sticking
close to their SYCOM closing levels.
- The domestic 3-/10-Year cash yield differential hovers just above ~56.0bp,
running a little steeper on the day, while the AU/U.S. 10-Year yield spread sits
near enough unch. at ~33.5bp.
- The Bill strip deals unch. to 1 tick higher last. 3-Month BBSW fixed ~0.25bp
higher today.
- Corporate issuance has continued at a healthy clip, with Paccar Financial
launching a minimum of A$100mn worth of 4-Year Notes & Suncorp Metway launching
a new A$ benchmark covered bond package. Both lines should price later today.
- Sovereign issuance generates the largest interest on the docket over the next
2 sessions with the AOFM set to sell A$1.0bn worth of 2.50% 21 May 2030 Bonds
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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