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Cheaper But Off Early Sydney Lows

AUSSIE BONDS

YM & XM have moved away from their early Sydney troughs, after the former showed comfortably below its overnight low after the re-open, leaving YM -6.0 & XM -5.0 at typing.

  • Note that late on Tuesday the AFR reported that “next week’s federal budget will contain measures to deal directly with high petrol prices - either through a temporary reduction in the fuel excise or a freeze on its indexed increases.”
  • There hasn’t been much in the way of detectable trans-Tasman impetus after NZ PM Ardern outlined the latest moderation in COVID-related social restrictions.
  • A$1.0bn of ACGB Nov-31 supply headlines the domestic docket 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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