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Ausasie bonds saw quiet trade on.......>

AUSSIE BONDS
AUSSIE BONDS: Ausasie bonds saw quiet trade on Thursday, yields dropping at the
open in tandem with the US following the FOMC, while futures rose during SYCOM
and after a brief spate of buying at the SFE open saw 3 tick ranges in both the
3-&-10-Year futures.
- After opening at 98.01 YMU7 saw a flurry of buying activity with approximately
10k paid up to 98.04. The contract then traded in a range from 98.02-04. 
- The 10-Year future was similarly quiet, the contract has now moved in a 12
tick range since the start of August.
- Australian import/export price data was ignored by markets. The data was a
miss on both counts against consensus in Q2 after a beat in Q1, this was the
first decline in terms of trade in five quarters.
- Chinese data was also ignored, the June industrial profits reading rising
19.1% annually, with rapid production growth and acceleration of product sales
attributed for the strength.
- Yields head into the close lower, having dropped at the open with rangebound
trade thereafter. Moves mixed, 3-Year -3.6bp, 10-Year -4.1bp, 30-Year -4.1bp

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