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Futures recovered after the initial....>

AUSSIE BONDS
AUSSIE BONDS: Futures recovered after the initial knee jerk lower in the wake of
the stronger than expected headline AU CapEx reading, perhaps as markets
realised that the component which feeds into GDP (equipment & machinery
investment) registered a relatively nominal increase. The contracts then printed
fresh session highs on the back of a softer than expected official Chinese
manufacturing PMI print.
- YM last -1.0 tick, with XM -3.5 ticks. YM/XM trades at 45.5, with the cash
equivalent at 45.7bp. The AU/U.S. 10-Year yield spread trades at -57.0bp.
- Bills trade 1-2 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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