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Flattening was the theme in............>

AUSSIE BONDS
AUSSIE BONDS: Flattening was the theme in Australia, with YM +0.5 and XM +4.75
as broader risk-off dynamics supported the space.
- Sino-Australian tensions remain apparent, although Trade Minister Birmingham
has noted that the death sentence of an Australian man through a Chinese court
for drug smuggling shouldn't necessarily be seen as retaliation re: the well
documented tensions.
- Early Monday also saw PM Morrison outline the need for prudence re: government
spending, while the unveiling of a A$1.5bn infrastructure spending plan was
flagged ahead of time by local press reports in the early Sydney hours.
- The latest round of monthly Chinese economic activity data had no tangible
impact on the core FI markets.
- Focus tomorrow turns to the release of the minutes from the RBA's most recent
monetary policy decision. RBA repo dynamics will also come under close scrutiny
this 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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