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MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Cheaper Start, RBA On Tap

AUSSIE BONDS
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ACGBs have opened dealing ~4bps cheaper across the major benchmarks, spillover from Tsys which unwound much of the post-NFP gains is weighed in early trade.

  • Futures are a touch lower, however remain well within recent ranges, XM sits -0.04 and YM is also 0.04 lower.
  • RBA Dated futures prices ~17bps of hikes into today's meeting. A terminal rate of 4.450% is seen in June 2024. The Bloomberg survey looks for a 25bp hike today.
  • PM Albanese touted the "strong relationship" (BBG) between China and Australia in his meeting with President Xi yesterday, he invited Xi to Australia.
  • Also on the wires today is the Oct Foreign Reserves, there is no estimate and the prior read was A$90.4bn.
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ACGBs have opened dealing ~4bps cheaper across the major benchmarks, spillover from Tsys which unwound much of the post-NFP gains is weighed in early trade.

  • Futures are a touch lower, however remain well within recent ranges, XM sits -0.04 and YM is also 0.04 lower.
  • RBA Dated futures prices ~17bps of hikes into today's meeting. A terminal rate of 4.450% is seen in June 2024. The Bloomberg survey looks for a 25bp hike today.
  • PM Albanese touted the "strong relationship" (BBG) between China and Australia in his meeting with President Xi yesterday, he invited Xi to Australia.
  • Also on the wires today is the Oct Foreign Reserves, there is no estimate and the prior read was A$90.4bn.