Futures Hold Gains

Aussie bond futures were more reluctant to pull back from their respective overnight session peaks than their U.S. Tsy counterparts, going out just shy of their respective richest levels ahead of the weekend.

• That leaves YM +13.5 and XM +12.5 shortly after the Sydney open, with little in the way of meaningful weekend news flow to digest (both in terms of wider macro and domestic matters). Bills run 1-21bp richer through the reds, bull flattening.
• Today’s local docket is headlined by hosing finance data, building approvals, ANZ Job Ads and the latest round of Melbourne Institute inflation expectations readings, although participants will be more than aware of the proximity to tomorrow’s RBA decision (50bp hike is the consensus view), which, when coupled with the recent moves in the space, will likely limit any post-data reaction.
• Expect our full RBA preview to hit over the coming hours.