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Flatter Early On

AUSSIE BONDS

The European COVID-19 dynamic has resulted in a defensive start to the new trading week, with Aussie bonds bid in early Sydney trade as a result, allowing XM to re-test SYCOM highs. YM unchanged, with XM +3.0.

  • Locally, Victoria has seen its Premier delay a decision on any potential further easing of lockdown restrictions until Tuesday, owing to a COVID-19 cluster in the Melbourne suburbs. Elsewhere, PM Morrison has revealed that all of the nation's states & territories, barring Western Australia, have agreed to a broader framework that would end regional border closures before December 25.
  • Bills unchanged to -1 through the reds.
  • A$1.5bn worth of ACGB 2.75% 21 November 2028 supply and preliminary trade balance data are also due on the local docket today.
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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