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Aussie Bonds have started the week.....>

AUSSIE BONDS
AUSSIE BONDS: Aussie Bonds have started the week on the front foot, with 3-Year
Bond futures trading at 97.805 (+2.0 ticks), while 10-Year Bond futures trade at
97.240 (+2.5 ticks).
- The domestic 3-/10-Year domestic yield spread operates at 59.3bp (+0.2bp)
while the AU/US 10-Year spread is 2.5bp wider at -20.2bp.
- 3-Month BBSW fixed 2.5bp lower at 1.995% today, with the white & red Bill
contracts last trading 1-3 ticks higher on the day, decent buy side flow was
noted in IRU8 in early dealing.
- News flow has been light thus far, with Fedspeak forming the focal point for
traders on Monday. Australian retail sales data will hit on Tuesday, which forms
the major risk domestic event this week.
- From a technical perspective 10-Year futures hesitation ahead of the
97.045-080 support region has resulted in a correction that sees immediate focus
on 97.260-3096 where the 200-WMA is located. Bulls now need a close above the
200-WMA to shift initial focus to 97.400-440. Follow through was lacking Friday
& bears now look for a close below 97.150 to retain initial focus on '18 lows.
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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