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Aussie bonds flatter vs. settlement,...>

AUSSIE BONDS
AUSSIE BONDS: Aussie bonds flatter vs. settlement, with YM -0.5 and XM +4.5.
- The latter pulled back from best levels on the back of an announcement re: the
syndication of the new ACGB '51, with the long end of the cash curve also off
richest levels on the announcement. That syndication is scheduled for week
beginning 27 July 2020. More imminently, the AOFM also announced a syndication
for the new ACGB '25, scheduled for next week.
- XM then moved back towards highs on a broader bout of risk-off flow, with a
focus on Chinese equity market dynamics.
- Locally, Melbourne COVID-19 cases edged higher, with PM Morrison cutting the
availability of flights for returning Australian citizens in half. The PM will
hold a conversation with his NZ counterpart re: the trans-Tasman travel bubble
later today.
- Outside of supply, the latest labour market report and NAB business survey
headline next week's docket.
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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