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Early Weakness Moderates On Wider Matters

AUSSIE BONDS

ACGBs trade away from worst levels, aided by the bid in U.S. Tsys, as the initial impact of the overnight session cheapening and domestic fiscal matters has waned, with broader market themes (read hope surrounding a firmer fiscal footing for the UK) seeing the space away from worst levels.

  • That leaves YM -2.5 & XM -5.5, with wider cash ACGB trade seeing 3-5bp of cheapening.
  • EFPs are a touch narrower, with light flattening of the 3-/10-Year EFP box observed.
  • Bills run 1-4bp cheaper through the reds.
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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