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Bonds tick higher in the wake of.......>

AUSSIE BONDS
AUSSIE BONDS: Bonds tick higher in the wake of softer than expected domestic
retail sales data (+0.1% M/M Vs. BBG Median of +0.3%). While the RBA will be
relieved that the measure has moved back into positive territory after last
month's soft print, the release will do little to quell economists' calls for
rate cuts.
- YM continues to hover just shy of key resistance, last trading +1.0 tick, with
XM +4.0 ticks. YM/XM trades at 46.0bp, with the cash equivalent at 46.6bp. The
AU/U.S. 10-Year yield spread trades at -63.7bp.
- Bills trade unchanged to 1 tick higher through the reds, excluding IRH9.
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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