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Aussie Bonds edged higher in early.....>

AUSSIE BONDS: Aussie Bonds edged higher in early SFE dealing, breaching the
SYCOM highs, with the space having little reaction to a solid enough auction of
the 2.50% 21 May 2030 Bond. The formal announcement re: the issuance of a new
2050 I/L bond weighed on duration, with the line set to come to market during
w/c Sep 17.
- The domestic 3-/10-Year cash yield differential last trades unchanged, after
some early flattening, last ~56.5bp, with the AU/U.S. 10-Year yield spread
hovering around -32.5bp following the pull back in AU Bonds.
- It is also worth noting that the AU/U.S. 30-Year yield spread has moved into
negative territory over the last couple of sessions.
- The Bill strip trades 1-2 ticks higher last, with activity petering out after
a busy enough start to the session.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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