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Aussie bonds traded in a similar.......>

AUSSIE BONDS: Aussie bonds traded in a similar fashion to U.S. Tsys with little
to go off in terms of domestic headline news flow, while across the Tasman, RBNZ
Governor Orr & Deputy Governor Hawkesby reiterated similar rhetoric to that
which accompanied yesterday's surprise 50bp rate cut. YM last -3.0 with XM -0.5,
just off their respective lows, leaving the curve flatter on the day as YM/XM
deals at 30.5.
- We also saw comments from RBA's Bullock which were not focused on MonPol, but
she did suggest that Australia's largest retailers are generally well-placed to
weather the effects of the sluggish domestic economy.
- Bills deal 2-4 ticks lower through the reds.
- Friday will be headlined by the release of the RBA's latest SoMP as well as
RBA Governor Lowe's semi-annual testimony to a parliamentary committee. The IB
strip prices a circa 60% chance of a cut at the RBA's September meeting at
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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