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Futures Richer But Off Early Sessions Highs, Consumer & Business Confidence Data Tomorrow

AUSSIE BONDS

ACGBs (YM +6.0 & XM +1.5) have pared early Hamas/Israel Conflict-inspired gains but continue to deal richer.

  • US tsy futures are also off the early Asia-Pac session high of 107-20+ to be dealing at 107-08, +0-13 from NY closing levels. Cash US tsys are closed today for the Columbus Day holiday.
  • The local calendar has been empty so far today, with Foreign Reserves data due later.
  • Cash ACGBs are 2-5bps richer, with the 3/10 curve steeper.
  • Swap rates are 3-5bps lower, with EFPs 1-2bps wider.
  • The bills strip has bull-flattened, with pricing +1 to +6.
  • RBA-dated OIS pricing is 2-6bps softer across meetings, with Dec’24 leading.
  • Tomorrow, the local calendar sees Westpac Consumer and NAB Business Confidence data.

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