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Bid to Start The Day

AUSSIE BONDS

Aussie bonds are flatter at the start of the session given the moves seen in the U.S. Tsy complex late in NY trade, while the AOFM's issuance update was in line to a little light vs. sell-side exp (see earlier bullets for further detail/colour). The contents of the federal budget was largely in line with press leaks. YM trades +3.5, with XM +4.0.

  • RBA watcher McCrann has noted that the RBA is very likely to deliver an easing package at its November meeting (see our RBA review for more colour on the decision, as well as sell-side views).
  • We also saw S&P affirm Australia at AAA, outlook negative after hours on Tuesday.
  • Bills sit unchanged to +2 through the reds.
  • A$2.5bn worth of ACGB 2031 supply and the latest round of payrolls data headline the local docket on Wednesday.
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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