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Curve Twists Steeper

AUSSIE BONDS

Tuesday’s move in U.S. Tsys has facilitated some modest twist steepening of the Aussie futures curve when compared to Sydney settlement levels, leaving YM +1.0 and XM -0.5 in early Sydney trade. The space continues to take cues from the macro sphere, with a lack of domestic drivers evident at the start of the year. Indeed, the broader dynamic has allowed the 3-/10-Year futures curve to steepen away from local flats (adding ~20bp over a couple of weeks). ANZ job ads data headlines a thin local docket today.

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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