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Bull Steepening On Lead From U.S. Tsys

AUSSIE BONDS

Aussie bond futures open around the levels observed in late overnight dealing after the previously outlined impetus derived from U.S. Tsys drove bull steepening of the futures curve in post-Sydney trade. The space did back away from best levels as U.S. equities recovered from worst levels of the day.

  • That leaves YM +10.0 & XM +7.0 shortly after the Sydney re-open.
  • The IR strip trades 1-13bp richer through the reds.
  • Q1 completed construction work, an address from RBA Assistant Governor (Economics) Ellis on “Housing in the Endemic Phase” & A$300mn of ACGB Jun-51 supply headline domestically on Wednesday.
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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