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Aussie bond futures followed the US....>

AUSSIE BONDS
AUSSIE BONDS: Aussie bond futures followed the US higher yesterday with 10years
last at 97.575, closing in on the Dec 10 highs. 
- 10year cash yields trade down 2.3bps at 2.415%, pressured by the ongoing drop
in breakevens. The curve steepened bullishly yesterday in line with the US, with
the 3s-10s spread recovering from recent lows but remaining in its broad
downtrend. 
- The AU-US 10year spread sits at -43.2bps, remaining in its tight trading
range.
-RBA minutes released today showed that that board agreed that the next move is
likely to be an increase, but this seems a long way off. Rate markets are
currently pricing in a long pause, with a similarly small change of a hike or a
cut over the course of 2019. Attention will turn to tomorrow's US FOMC ahead of
Thursday's Aussie unemployment data. 

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