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CBA's RBA Call Leads Space Off Highs

AUSSIE BONDS

YM & XM both print 1.0 tick above their respective settlement levels after fading from their early Sydney highs on the back of the previously flagged RBA call from CBA (they now look for the first RBA hike in Nov '22), with much of the local news flow focus on the apparent NSW COVID case 60km outside of Sydney. $1.0bn of ACGB May '32 supply is due at the top of the hour, although there hasn't been much in the way notable concession, with the 7- to 12-Year zone of the ACGB curve seeing some marginal outperformance, last trading ~1.5bp richer on the day.

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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