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Futures Firm Overnight

AUSSIE BONDS

Spill over from U.S. Tsys resulted in bull steepening during post-Sydney dealing, with futures more than reversing pre-NY losses, finishing after-hours dealing a touch shy of best levels of the session, taking out Monday’s Sydney highs in the process.

  • Overnight highs in YM have been tested at the re-open, but it has been a fairly flat start, with YM +8.5 & XM +5.5 at typing, a touch shy of their respective post-Sydney peaks.
  • Tuesday’s local docket is headlined by CBA household spending data, the NAB business survey & Q1 retail sales ex-inflation. We will also get A$100mn of index-linked Feb-50 supply from the AOFM.
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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