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Bond futures consolidated the bulk.....>

AUSSIE BONDS
AUSSIE BONDS: Bond futures consolidated the bulk of Friday's SYCOM gains but
lacked follow through above last week's highs. This came as Aussie 10-Year
yields registered a fresh all time low in the wake of Friday's risk-off flows
and worries re: U.S. curve inversion.
- YM last trades +4.0 ticks, with XM +5.5 ticks. YM/XM trades at 43.0, with the
cash equivalent at 37.7bp. The AU/U.S. 10-Year yield spread trades at -66.6bp.
- The latest round of ACGB 2024 supply saw strong demand, despite the suppressed
outright yield levels. Elsewhere, BWP hired banks for an AUD fixed income
investor call.
- Bills trade unchanged to 3 ticks higher through the reds. RBA repo ops saw
A$1.115bn worth of 17-day ops dealt at an average of 2.011%, with A$826mn worth
of 45-day ops dealt at an average of 1.966%.
- RBA's Ellis headlines the docket tomorrow, with her address set to focus on
households (no doubt based upon the wealth effect of house price gyrations).
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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