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Curve off earlier/overnight flats,.....>

AUSSIE BONDS
AUSSIE BONDS: Curve off earlier/overnight flats, with XM softening from best
levels in early Sydney trade, alongside U.S. Tsys, even as regional equity
markets and U.S. equity index futures trade lower in early Asia.
- YM +1.5, XM +7.0, still leaving the curve comfortably flatter on the day after
the space took impetus from Tsys overnight.
- Bills unchanged to +1 through the reds, overnight cash rate edged lower to
0.16% today, as flagged earlier, with ES account surpluses rebounding after
yesterday's ACGB maturity related dynamics.
- The labour market report headlines the local docket today, with SEEK's weekly
job ads data painting a pretty grim picture ahead of the release, and the
worsening dynamics of global labour markets evident. The bad news? March's print
is unlikely to be the worst of what lies ahead.
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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