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Bond futures continue to operate.......>

AUSSIE BONDS
AUSSIE BONDS: Bond futures continue to operate just above worst levels, after
they followed U.S. Tsy futures lower after the CME re-open.
- There was little reaction in the space to the soft AU retail sales data, while
the latest auction of A$1.0bn of the 3.25% 21 April 2029 Bond, issue #TB138, saw
the cover ratio move higher (when adjusted for constant size), with little/no
immediate reaction observed.
- The domestic 3-/10-Year cash yield spread trades around ~61.0bp, virtually
unchanged on the day, while the AU/U.S. 10-Year yield spread deals at ~-48.0bp
as AU paper failed to play catch up to U.S. Tsys, after Tsys' Thursday rally.
- On the corporate front, Lendlease Finance launched new A$ 5.5- & 10-Year
paper.
- The Bill strip last trades 2-5 ticks lower, with 3-Month BBSW fixing ~0.6bp
higher today.
- Local focus next week is set to turn to the RBA MonPol decision/SoMP, as well
as the auction of the ACGB March 2047 line.
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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