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Cheaper On U.S. Tsy Impulse

AUSSIE BONDS

Weakness in U.S. Tsys spilled over into Aussie bond futures during post-Sydney dealing, leaving YM -4.5 & XM -8.5 after the local re-open. The S&P 500 & DJIA registered their highest ever closing levels as the Santa rally extended into the end of the year, applying pressure to U.S. Tsys & Aussie bond futures in the porcess. Elsewhere, the latest 7-Year U.S. Tsy auction saw a wide tail, applying some modest pressure. The local economic docket is empty today, but the Australian Cabinet will meet to discuss COVID matters. The meeting is set to focus on isolation requirements re: close contacts (expect a loosening of stringency here) & testing, so shouldn’t be much of a market mover.

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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