Aussie bonds were focused on the.......>

AUSSIE BONDS: Aussie bonds were focused on the syndication of the new ACGB Nov

'25, with A$17.0bn worth of the line issued in the middle of the AOFM's initial

price guidance, maintaining the run of sizable issuance via syndication

(although it didn't herald a fresh record in terms of issuance size this time).

Bonds have ticked lower since, but only at the margin. YM -0.5, XM -1.0.

- The latest NAB business survey revealed a bounce for both the confidence and

conditions metrics, while the latest weekly ABS payrolls survey saw a slight

downtick for the number employed at the end of June (w/w).

- Elsewhere, BBG headlines noted that JBS Australia halted beef exports to China

as of yesterday, while the Premier of Queensland noted that "the cities of

Liverpool and Campbelltown in NSW will be added to the list of hotspots along

with all the local government areas in Victoria which have (already) been in

place. No-one from those cities will be able to quarantine in Queensland and

will be turned away at the border."