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Flatter On U.S. Tsy Dynamic

AUSSIE BONDS

Cues from the U.S. Tsy space drove the futures space flatter overnight, with YM +0.5 and XM +4.0 at typing, as the latter tests its SYCOM highs in early Sydney dealing. 10s are the outperformer in cash trade thus far.

  • Locally we have seen Treasurer Frydenberg announce the exemption to fringe benefits tax (FBT), effective immediately. This means that businesses choosing to give workers retraining and upskilling chances will be rewarded with a tax break.
  • Bills sit unchanged to +1 through the reds.
  • An atypical A$500mn tap of ACGB 3.25% 21 June 2039 is slated for today, with Australian retail sales data also on the docket.
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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