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Cheaper On Friday, Oct Labour Market Report Due Next Week

AUSSIE BONDS

Aussie Bonds have held cheaper through Friday's session and ACGBs sit 6-9bps cheaper across the major benchmarks.

  • XM (-0.1000) and YM (-0.070) are also holding lower, however losses were marginally pared after the RBA's SoMP.
  • The statement didn't appear to shed much light on the outlook for the economy. CPI is expected to return to the top of the band by end of 2024. THe growth outlook is a touch firmer, and the employment forecast is at 4%.
  • 10 Year AU US Swaps spreads remain stable and sit flat today.
  • Looking ahead the highlight of next week's docket is the October Labour Market report which crosses on Thursday. The unemployment rate is expected to tick higher to 3.7%.

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