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Aussie bond futures saw some light.....>

AUSSIE BONDS
AUSSIE BONDS: Aussie bond futures saw some light steepening pressure, with a
second consecutive Thursday hiatus for ACGB bond purchases, in addition to some
loose talk re: the possibility of AOFM syndication that never really went past
desk chatter. YM +0.5, XM -1.5, with the latter back from lows over the last
hour or so.
- Market looked through strong local trade data for the month of April, which
saw a record surplus driven by exports of iron ore (Chinese activity restart)
and the volatile gold component. Mixed Chinese data also provided some impetus.
- Bills last unchanged to -1 through the reds.
- On the issuance front, Bank of Queensland has launched 5-Year A$ covered
paper.
- Focus tomorrow will fall on the RBA's SoMP, although the core scenario has
been presented a couple of times in recent weeks, ACGB 2023 supply and the
AOFM's weekly issuance schedule (especially in lieu of the aforementioned desk
chatter).
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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