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Bid Underpinned

AUSSIE BONDS

The previously flagged North Korean missile launch added to the early Sydney bid, although futures have been unable to take out their respective overnight highs thus far, with YM +17.5 and XM +19.5, a little shy of best levels. Note that the 5- to 7-Year zone of the cash ACGB curve now outperforms, with the major benchmarks running 11-16bp richer on the day.

  • Bills run 11-23bp richer through the reds.
  • Domestic headline flow remains light, with participants focused on today’s RBA decision (see earlier bullets for more colour on that matter).
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The previously flagged North Korean missile launch added to the early Sydney bid, although futures have been unable to take out their respective overnight highs thus far, with YM +17.5 and XM +19.5, a little shy of best levels. Note that the 5- to 7-Year zone of the cash ACGB curve now outperforms, with the major benchmarks running 11-16bp richer on the day.

  • Bills run 11-23bp richer through the reds.
  • Domestic headline flow remains light, with participants focused on today’s RBA decision (see earlier bullets for more colour on that matter).