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Bond futures are edging away from......>

AUSSIE BONDS
AUSSIE BONDS: Bond futures are edging away from SYCOM closing levels/early SFE
lows, with YM 3.5 ticks lower on the day and XM 4.5 ticks lower at writing.
- YM/XM last deals 1.5 steeper at 52.5, while the cash 3-/10-Year yield
differential trades at 49.2bp.
- Little in the way of AU specific news flow highlighted. As a reminder Tuesday
saw Bank of Queensland raise mortgage rates by 11-18 basis points on a range of
home loans, citing funding pressures & deposit competition.
- Bills trade unchanged to 3 ticks lower through the whites and reds. RBA
Reverse repo ops saw $1.02bn worth of 20-Day ops dealt at 2.017% & $1.87bn worth
of 40-Day ops dealt at 2.010%.
- One trade of note in the IB strip thus far: IBF9 paper paid 98.505 on ~12.0K.
- Domestic focus falls on AU building approvals data, U.S. Pres Trump's address
re: border security and the general risk backdrop, ahead of the release of the
Dec FOMC meeting minutes.
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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