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Flattening has extended a little.......>

AUSSIE BONDS
AUSSIE BONDS: Flattening has extended a little during the Sydney morning, with
the broader risk-off feel to the Asia-Pac session in the drivers seat. YM +0.5.,
XM +2.5.
- Focus of course falls on the local labour market data at the bottom of the
hour, with the broader labour market picture set to worsen, although the recent
"soft" metrics covering the space (weekly ABS payrolls and SEEK employment
reports) point to the worst already being behind us.
- On the issuance front Singtel Optus has mandated for a potential 5- and
10-Year A$ round of issuance.
- Bills -1 to +1 through the reds, twist flattening.
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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