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Cross-Asset Flows Lend Support

AUSSIE BONDS

Cross-asset flows seemingly at the fore as e-minis latch onto the NY bid in European equities and core global FI moves higher, in sympathy with that dynamic. A ~3.6K lift in YM futures was also seen just before the re-open of U.S. futures, aiding the move. The early twist flattening has morphed into bull flattening, with the major cash ACGB benchmarks running 3.5-5.5bp richer, while YM & XM are +4.0 & +5.0, respectively, just off best levels of the day. Bills sit 1-5bp richer through the reds, bull flattening.

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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