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Bonds operate just shy of the SYCOM....>

AUSSIE BONDS
AUSSIE BONDS: Bonds operate just shy of the SYCOM closing levels, and felt
little in terms of spill over from the BOJ's offer to buy an unlimited amount of
10-Year JGBs at a fixed rate.
- The space has drawn a degree of support from the largely negative start for
regional equites.
- The domestic 3-/10-Year yield differential has steepened by a little over
2.5bp. to trade just shy of 55bp, while the AU/U.S. 10-Year yield spread
operates around -22bp, in familiar territory.
- 3-Month BBSW fixed some 0.6bp lower at 1.9850% today, with OMO rates also
easing. This has supported the front end of the bill strip, with IRU8 being the
only contract to trade higher at present, adding 2 ticks, while the remainder of
the white and red contracts trade unchanged to 2 ticks lower.
- Participants look to Wednesday's AU CPI release, although the release isn't
expected to alter the bigger picture of limited inflation/wage growth.
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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