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AUSSIE BONDS

YM drifted lower in early Sydney trade, but the overnight lows were not breached, with a light bid in the U.S. Tsy space supporting broader core FI markets. The RBA minutes covering the February monetary policy decision came and went without much furore (the previously flagged discussion surrounding the treatment of cash flows from maturing bonds purchased under the Bank’s QE scheme provided the only real point of note there), while geopolitical headlines re: the Russia-Ukraine situation continue to catch the eye. YM -6.0 and XM -7.0 at typing, with the cash ACGB curve undergoing some bear steepening.

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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