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Equities Extend Recovery, Nears Friday High


April Trade Deficit Widens

Aussie Bonds have ticked away from.....>

AUSSIE BONDS: Aussie Bonds have ticked away from lows, with futures last trading
in the middle of their respective SFE ranges, shadowing Tsys, after the uptick
in NZ swaps post-RBNZ led to some pressure from across the Tasman in early
- The domestic 3-/10-Year cash yield differential last deals at 64.9bp, while
the 10-Year AU/U.S. 10-Year yield spread trades at ~-47.4bp.
- Corporate supply is picking back up, Westpac mandated for 3- Year & 5-Year A$
paper, AgBank of China mandated for A$ roadshow, BOC Sydney launched A$ 3-Year
FRN & NSW launched a minimum of $A500mn of a 2028 green bond. ADB priced A$125mn
of its Sep 2027 Bond at swaps+40.
- Bills trade unchanged to 5 ticks lower last, 3-Month BBSW set 0.1bp higher
- Focus falls on tomorrow's RBA SoMP & AOFM weekly issuance plans.
MNI London Bureau | +44 0203-865-3809 |