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The weakness in core global fixed income markets, tied to Gilts and the prospect for further fiscal loosening in the UK, continued to apply pressure in post-Sydney dealing, leaving YM -5.0 & -13.0 shortly after the Sydney re-open, through/at respective overnight lows as domestic participants adjust to the wider moves observed on Monday.

  • The intermediate-driven weakness in U.S. Tsys resulted in XM leading the weakness when it came to bond futures trading, pulling the YM/XM curve away from cycle flats.
  • Bills run 1-9bp cheaper through the reds, with OIS RBA terminal rate pricing incrementally higher this morning, nudging up towards 4.40%.
  • There isn’t much to note on the domestic docket today, with A$100mn of Nov-32 indexed supply from the AOFM and the weekly ANZ-Roy Morgan consumer confidence print due.
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The weakness in core global fixed income markets, tied to Gilts and the prospect for further fiscal loosening in the UK, continued to apply pressure in post-Sydney dealing, leaving YM -5.0 & -13.0 shortly after the Sydney re-open, through/at respective overnight lows as domestic participants adjust to the wider moves observed on Monday.

  • The intermediate-driven weakness in U.S. Tsys resulted in XM leading the weakness when it came to bond futures trading, pulling the YM/XM curve away from cycle flats.
  • Bills run 1-9bp cheaper through the reds, with OIS RBA terminal rate pricing incrementally higher this morning, nudging up towards 4.40%.
  • There isn’t much to note on the domestic docket today, with A$100mn of Nov-32 indexed supply from the AOFM and the weekly ANZ-Roy Morgan consumer confidence print due.