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Futures flattened a touch overnight, given the aforementioned impetus from the U.S. Tsy space, leaving YM unch. and XM +1.0 in early Sydney dealing, pretty much in line with late overnight session levels, with the latter off of overnight highs.
- Building approvals data & A$1.2bn of ACGB 1.00% 21 November 2031 supply headline the local docket today, with the market already looking to Thursday's address from RBA Deputy Governor Debelle given the language deployed in the statement released alongside yesterday's RBA decision. We should also highlight that there is the potential for some trans-Tasman spill over during Wednesday's session, with the latest quarterly NZ labour market report due in ~10 minutes time.