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Flatter To Start

AUSSIE BONDS

Wednesday’s flattening of the U.S. Tsy curve has facilitated a similar, albeit more modest, move in the ACGB space, with the major cash ACGB benchmarks running flat to 3.5bp richer in early Sydney trade. YM trades -1.0, while XM is +2.0, after the impulse from softer than expected U.S. economic data and the minutes covering the latest FOMC decision allowed the space to correct from overnight lows.

  • Bills run flat to -4 through the reds, with IRH3-U3 leading the downtick.
  • Local headline flow has been limited since the Sydney close.
  • The local docket is empty today, which will leave participants on headline watch, while broader global liquidity will be limited by the observance of the Thanksgiving holiday in the U.S.
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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