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Futures were a touch flatter overnight, in sympathy with the move seen in U.S. Tsys, leaving YM unchanged and XM +1.5 in early Sydney dealing, in line with late overnight session levels.
- Tuesday's local docket is headlined by ABS payrolls and preliminary trade balance data. The weekly ANZ-Roy Morgan consumer confidence reading will also cross. A$150mn of 1.25% 21 August 2040 I/L AOFM supply is also due.
- A reminder that SAFA's tap (up to A$500mn) of its May '32 line is set to price today, which could weigh on XM around the time of pricing.