No reaction to the latest round of RBNZ inflation expectations data from across the Tasman, which saw a slight moderation in 2-Year inflation expectations. Note that the previously alluded to uptick from session cheaps in wider core global FI markets allowed the ACGB to move away from worst levels earlier in the session. YM deals -14.0, while XM is -13.5, as much of the overnight/early Sydney YM/XM flattening unwinds. Wider cash ACGB trade sees the belly present the weakest point on the curve, with benchmark ACGBs running 10-14bp cheaper across the curve. Bills sit 9-19bp lower on the session,
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