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US TSY FUTURES

Post-Data Two-Way Trade

US TSYS

Repo Reference Rates, SOFR Holds At 0.03%

US EURODLR FUTURES

BLOCK, Red Pack

AUSSIE BONDS
AUSSIE BONDS: CBA note that the new ACGB "Nov '25 looks to us likely to sit at
something like 17bp EFP. That would make it about 1bp cheaper than the Apr '25.
That is reasonably aggressive pricing, there's a risk that the bond is slightly
wider than that at first issuance, but we would definitely expect the bond to be
at 17bp in short-order after issuance. The question will likely be settled by
the volume the AOFM needs. If the AOFM is seeking to better the previous deals
then the pricing might slip a little further back. But if, as we suspect, the
AOFM is not under as much pressure to issue now, then they will be happy with
north of about $A12bn and probably expecting something like $A15-20bn."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com