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Fixed income assets continue to be.....>

AUSSIE BONDS: Fixed income assets continue to be underpinned by the global trade
backdrop after the U.S. Tsy confirmed that the prev. announced tariffs on China
were scheduled to go into effect (at midnight ET), with U.S. President Trump
noting that he is eyeing up another $16bn in China tariffs in the coming weeks.
Markets now await China's response. - Outright Bond futures had been operating
around the recent highs, before the AOFM's announcement that, subject to market
conditions, a new 21 May 2041 Treasury Bond is planned to be issued via
syndication in the week beginning 16 weighed on the longer end of the Aussie
- The domestic 3-/10-Year yield differential & the AU/US 10-Year yield spread
are hovering around familiar territory, although the AU/US spread has moved away
from session lows following the aforementioned AOFM announcement.
- 3-Month BBSW fixed unchanged today, following 5 consecutive lower fixings, but
a surge in repo rates has pressured the Bill strip, with the white contracts
underperforming, last 2-3 ticks lower.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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