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Aussie Bonds have moved higher, with...>

AUSSIE BONDS: Aussie Bonds have moved higher, with the move representing spill
over from a dovish RBNZ across the Tasman, although the uptick in Chinese stocks
has allowed the space to tick back from best levels.
- The domestic 3-/10-Year yield differential sits a touch flatter at 57.5bp
last, with the AU/U.S. 10-Year yield spread sitting just below -30bp.
- The Bill strip has also been dragged higher, likely on spill over from the
RBNZ's shallower rate path, with flattening apparent, as the space trades
unchanged to 4 ticks higher, despite 3-month BBSW fixing some 0.5bp higher
today. The IB strip is little changed.
- Corporate issuance again in vogue today, with Sumitomo Mitsui's Sydney branch
launching 2-Year paper after yesterdays A$300mn 3-Year fixed offering from HSBC
priced at 73bp over BBSW.
- Focus is on the RBA's SOMP, due tomorrow, although Gov. Lowe likely revealed
the key tweaks to the forecasts in his address yesterday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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