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Aussie bond futures looked through a...>

AUSSIE BONDS
AUSSIE BONDS: Aussie bond futures looked through a disappointing round of
headline Q4 capex data, with the numerical estimates & plant & machinery metrics
more encouraging, turning bid later in the session as the focus moved to larger
than avg month-end extensions & the broader risk-off feel generated by
coronavirus worry.
- YM finished +5.0, while XM was +6.5 come the bell.
- 10-Year yields tagged a fresh record low on the rally.
- Semi issuance saw NSW T-Corp price up A$1.0bn of its new Mar '33 line at EFP
+70bp, in the middle of the initial guidance range, while Avanti Finance
launched a small round of 4-Year issuance and Toyota Finance Australia priced up
a A$75mn tap of its 2023 line.
- PM Morrison initiated an emergency pandemic plan. Morrison noted that there
has been no community transmission of coronavirus in Australia, but warned that
the risk of a global pandemic is "very much upon us," stressing that action
needs to be taken.
- Bills were 2 to 4 ticks higher come the close.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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