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GILT TECHS

(M1) Key Support Zone Exposed

SCHATZ TECHS

(M1) Clears Congestion Support

BOBL TECHS

(M1) Bearish Activity Resumed

BUND TECHS

(M1) Key Support Exposed

CHINA RATES

China Repo Rates Rise on Wednesday: Wind

CHINA PRESS

PBOC Unlikely Change Policy Rates in 2021: CITIC

AUSSIE BONDS
AUSSIE BONDS: Aussie Bond futures operated on healthy volume during SYCOM trade,
undergoing a little bit of a roller-coaster ride, before finishing virtually
unchanged vs. the SFE close, at similar levels to where we currently operate.
Solid volume crossed at 97.905 in YMZ8 post-AU retail sales (modest beat 0.3%
M/M vs. exp. 0.2%), but there was little follow through.
- Little reaction in the space to comments from RBA's Heath, who focused on
theoretical aspects of the labour market.
- The latest AOFM auction & schedule for next week (10+ Year paper and an I/L
line) were well digested.
- The AU/U.S. 10-Year yield spread last deals at -48.0bp, unwinding a couple of
bp from yesterday's AU outperformance, with the domestic 3-/10-Year cash yield
differential last dealing relatively steady at ~69.0bp.
- Funding pressures have eased at the start of the quarter, which has played
into the basis space. There was little reaction in the Bill strip to today's
3-Month BBSW fixing (-1.03bp), last trading 1 tick higher to 1 tick lower.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com