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Futures holding a little steeper in....>

AUSSIE BONDS: Futures holding a little steeper in early Sydney trade, XM +0.5,
YM -1.0, although the latter finished SYCOM off of worst levels, akin to Tsys.
- A$2.0bn of ACGB 2.75% 21 Nov 2029 supply is due today, but broader focus will
likely fall on The RBA's monetary policy decision (see our full preview for
further details). As a reminder, no change expected at the RBA, with a focus on
the nuance surrounding the economic outlook after Governor Lowe pointed to a
slightly less downbeat backdrop last week. There is also scope for altered
commentary re: the AUD, given the retracement in the AUD TWI in recent weeks,
although that shouldn't be seen as anything like a given.
- On the corporate issuance front we have seen Sumitomo Misuse launch 3-Year FRN
and 5-Year Fixed and/or FRN A$ paper this morning.
- Bills unchanged to +1 through the reds.
- The aforementioned RBA MonPol decision and ACGB supply headline the local
docket today, with the latest round of Q1 GDP partials also due.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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