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Firmer & Flatter

AUSSIE BONDS

Aussie bond futures hold richer vs. late overnight levels, with YM +3.5 & XM +6.5, while wider cash ACGB trade sees the longer end of the curve outperform, richening by ~7.5bp. EFPs are mixed, with the 3-/10-Year box twist steepening. Bills sit 1-4bp richer through the reds.

  • There hasn’t been much in the way of meaningful domestic headline flow to digest, outside of the latest tick lower in the Westpac consumer confidence metric, which has registered a fresh cycle low at 81.2, although operates above the ’20 COVID trough at 75.6.
  • More focus is set to be given to the NAB business survey which will cross in just under an hour, with the wage components set to receive the most interest when it comes to that release.
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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