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ASIA RATES

Strong Bids At Auction For Indonesia

AUD

No Taper From RBA Puts Wind In AUD Sails

RBA

No Change To Tapering Plans From The RBA

EURUSD TECHS

Approaching The 50-Day EMA

US TSYS

Best Levels Registered

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CBA have noted that "one thing that doesn't appear to have changed is that markets believe that the RBA yield curve control will remain attached to ACGB Apr '24. It's true that there has been a material rally in ACGB Nov '24 and the AGCB Apr '24 to Nov '24 slope has flattened sharply. Both of which might lead to the belief that the Nov '24 is being considered as a target for YCT. However, ACGB Nov '24 is not out-performing ACGB Apr '25. In fact, the Apr '25 has rallied just a touch more and flattened the Nov '24 to Apr '25 slope. This suggests to us that the sharp rally in ACGB Nov '24 is much more about the timing and size of the anticipated RBA tightening cycle than anything else."