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Back From Overnight Flats, Supply Eyed

AUSSIE BONDS

The curve sits flatter than settlement levels in early Sydney trade, but is back from the extremes seen overnight, with U.S. Tsys also pulling back from richest levels during the NY session. YM +0.5, XM +2.0.

  • As we flagged earlier, local news flow continues to be dominated by Sino-Aussie tensions, with ABC sources noting that "mills in China are being told to stop buying Australian cotton as speculation grows that a hefty tariff is about to be slapped on the trade." Further details on that matter can be found in an earlier bullet.
  • Bills -1 to +1 through the reds.
  • Today will see A$1.0bn of ACGB 0.25% 21 November 2024 on offer at auction, with the AOFM set to reveal its weekly issuance schedule later in the day.
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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