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Aussie bonds were subjected to the.....>

AUSSIE BONDS
AUSSIE BONDS: Aussie bonds were subjected to the broader ebb & flow, recovering
from lows. YM -0.5, XM -1.5.
- Participants are already looking to Treasurer Frydenberg's fiscal update (due
Thursday). Weekend commentary saw FinMin Cormann point to some adjustments to
the JobKeeper scheme, while the Treasurer confirmed the extension of the scheme
beyond the initially scheduled expiry (end of September). The AFR has pointed to
a "tiered payment structure linked to workers' pre-COVID-19 income. The
tightening of eligibility criteria through more frequent testing of business
turnover is also appropriate." The AFR also noted that "reopened viable small
and medium businesses will now be encouraged to invest in future job growth and
the recovery by taking advantage of a revamped SME guarantee scheme offering
low-interest loans of up to $1 million over a five-year term." Worth noting that
Melbourne will be enforcing mandatory mask wearing in public in the coming days,
while the NSW government continues to focus on the local COVID-19 situation.
- A$2.0bn of ACGB 2.25% 21 Nov 2022 supply passed smoothly enough, stopping
through mid at the time of the supply.
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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