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Flatter On SA "Pause" & ACGB Cash Flow

AUSSIE BONDS

The dynamic in U.S. Tsys and earlier flagged "pause" (social restrictions) implemented in South Australia on the back of the local COVID situation has provided some support for the Aussie bond space in a fairly lacklustre Sydney session, allowing the overnight flattening impetus to extend at the margin. YM finished +1.0, with XM +7.0.

  • As we have flagged previously, ACGB cash flow dynamics were likely supportive given the impending coupon/maturity schedule and the fact that the AOFM's A$6.0bn tap of ACGB May '41 has now passed.
  • RBA Governor Lowe offered nothing of any real note in his latest appearance (which was a bit of a given on the back of the recent deluge of RBA communique).
  • Bills finished unchanged through the reds.
  • The monthly labour market report headlines tomorrow's local docket.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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