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Futures continued to drift lower in....>

AUSSIE BONDS
AUSSIE BONDS: Futures continued to drift lower in SYCOM hours in the wake of
yesterday's domestic labour market report (however questionable the breakdown
may have been). Contracts edged away from worst levels in the second half of
SYCOM trade, following the ebb & flow of U.S. Tsys, but YM is threatening a
break below the overnight trough at writing.
- YM -3.5, XM -3.0. YM/XM last -0.5 at 47.0.
- Worth noting that AU 10s have underperformed Tsys over the last couple of
sessions which would have seen some of the AU/U.S. 10-Year yield spread
tightening positions that several desks were touting (outlined earlier this
week) entered.
- Bills 2-5 ticks lower through the reds.
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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