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Aussie bond futures are on the back....>

AUSSIE BONDS
AUSSIE BONDS: Aussie bond futures are on the back foot toady as stability
returns to global stocks. The 10-year future trades at 97.2450, just above
yesterday's high. A break below 97.2400 would suggest a retest of the cycle low
at 97.1950. 
- 3-year futures trade below yesterday's low at 97.87, keeping the broader
bearish trend alive. 
- 10-year yields are at daily highs of 2.742% after taking out yesterday's high
to return the focus to the upside. 
- AU-US 10-year spread sits at -42.5bps and has barely moved today as both
markets trade in tandem, but a potential uptrend has formed since the Oct 4 lows
pointing to further narrowing. 
- AU-US 10-year real drops back to -18.6bps thanks to the large drop in US
inflation expectations providing support to real yields. 

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