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Futures Off Worst Levels

AUSSIE BONDS

Aussie bond futures have nudged away from worst levels, with relatively limited moves in U.S. Tsys and a lack of notable macro headline flow providing little in the way of a meaningful direction for the space. Cash ACGBs run 0.5-3.5bp cheaper across the curve, bear flattening. YM and XM are -2.5 and -1.5, respectively, with the former off session lows after failing to breach its overnight trough, while Bills run 1 to 8 ticks cheaper through the reds, bear steepening.

  • A$800mn of ACGB Nov-31 is due at the top of the hour. Elsewhere, Chinese CPI and PPI figures are due in ~45 minutes, providing the highlight of the Asia-Pac session on the data front. U.S. CPI will of course be more meaningful for wider markets.

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