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Aussie Bond Spillover?

US TSYS

T-Notes nudge lower after the cash re-open, with the contract last -0-01+ at 137-06+. Comments from White House chief of staff Klain indicated that Biden's stimulus plan is "gaining momentum" on the Hill, although the downtick came before those headlines hit. Cash trade sees U.S. Tsys sitting cheaper across the curve, with light bear steepening in play as 30s cheapen by ~1.5bp. The move may be linked to the move lower in Aussie bonds, which came ahead/around the pricing of a chunky round of semi-government issuance/amid speculation that ACGB Nov '32 syndication may be announced in around 15 minutes time.

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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