Aussie Debt Firms On Latest Russia Developments

Bond futures have firmed since the re-open, leaving YM +10.0 and XM +9.5 at typing. Western nations moved to remove certain Russian banks’ access to the SWIFT payments system over the weekend (although the trade of energy is set to continue, for now, avoiding the worst-case scenario on this front), while the Russian central bank was also subjected to sanctions as the west seeks to prevent the deployment of the country’s central bank reserves. We also saw Russian President Putin lift the alert level of the country’s nuclear deterrent forces to high, while the EU collectively moved to facilitate the armouring of Ukrainian forces in the ongoing conflict.

• Broader geopolitical-related headlines will remain in the driving seat today, but for the record, retail sales & private sector credit headline the domestic docket, with Melbourne Institute inflation data , Q4 inventory & company profits and A$500mn of ACGB 0.25% 21 Nov-25 supply also due.