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Flattening impulse observed in the.....>

AUSSIE BONDS
AUSSIE BONDS: Flattening impulse observed in the space since settlement (aided
by talk/market positioning re: of -ve rates at the Fed), leaving YM at unchanged
levels at typing, while XM sits +2.5.
- As we noted earlier, early Sydney hours saw a 10.0K lift of YMM0 at 99.750,
bang on the RBA's YCC target, showing no worry ahead of what should effectively
be central bank backstopped ACGB 2023 supply.
- XM sits off of SYCOM highs, but also off the Sydney lows (and well above SYCOM
lows).
- Bills unchanged to +3 through the reds.
- A$1.5bn worth of ACGB 5.5% 2023 supply and the RBA's SOMP will draw interest
today, with focus on the AOFM's weekly issuance schedule in lieu of desk chatter
re: the potential for AOFM syndication next week.
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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