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Aussie Bond futures operate at/near....>

AUSSIE BONDS
AUSSIE BONDS: Aussie Bond futures operate at/near best levels, with YM +0.5 & XM
-1.5 at writing. The curve trades a touch steeper as a result, YM/XM last 53.0,
with the cash 3-/10-Year yield differential last at 49.7bp. Short end
potentially underpinned by a modestly lower OIS marking & some buyside interest
in the IB strip.
- No notable reaction was observed to the latest round of AU housing finance
data.
- Bill strip trades unchanged to 1 tick lower across the whites and reds. Front
end of the IB strip has seen some decent sized buying in IBG9, all at 98.515.
3-Month BBSW fixed ~0.4bp lower today, with RBA repo rates ticking higher.
A$1.5bn of 29-Day ops were conducted at 2.100%, a YtD high.
- Focus remains on the broader risk backdrop, in addition to the AOFM's weekly
issuance schedule, released tomorrow.
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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