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Flatter At Margins, 10s Outperform U.S. Tsys

AUSSIE BONDS

XM ticked away from early lows, allowing the space to flatten at the margins, and there has been little in the way of retracement, with YM -0.5 and XM +0.5.

  • As mentioned earlier, the market was willing to look through domestic PMI data, and indeed the firmer than expected Chinese m'fing PMI print, while the remainder of the local data slate was mixed. ANZ job ads and building approvals data firmed, while Melbourne Institute inflation data softened.
  • Aussie 10s holding tighter vs. U.S. 10s ahead of tomorrow's RBA decision.
  • Bills unchanged to -1 through the reds.
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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