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Eyes On AU/U.S. 10-Year Yield Spread

AUSSIE BONDS

We will have to wait until early London hours to get a clean read on the AU/U.S. 10-Year yield spread (with only a short window available for a true read given that it will be late in the Sydney day by then), but yesterday’s move above the 50bp mark may be enough to trigger interest in (potentially short-term) tightener positions. This could be another factor that is playing into the bid in Aussie bond futures since the Sydney re-open, with participants perhaps looking for cross-market futures plays with cash Tsys closed until London hours.

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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