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Aussie Bonds continue to operate.......>

AUSSIE BONDS
AUSSIE BONDS: Aussie Bonds continue to operate around worst levels, with U.S.
Tsy futures back from their late Thursday highs.
- There was little reaction in the space to the soft AU retail sales data, while
the latest auction of A$1.0bn of the 3.25% 21 April 2029 Bond, issue #TB138, saw
the cover ratio move higher (when adjusted for constant size).
- The domestic 3-/10-Year cash yield spread trades around ~61.0bp, virtually
unchanged on the day, while the AU/U.S. 10-Year yield spread deals at ~-48.0bp
as AU paper failed to play catch up to U.S. Tsys after Tsys' Thursday rally.
- The Bill strip last trades 2-5 ticks lower, with 3-Month BBSW fixing ~0.6bp
higher today.
- Local focus next week set to turn to the RBA MonPol decision/SoMP, as well as
the auction of the March 2047 line.
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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