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Futures ticked away from lows in.......>

AUSSIE BONDS
AUSSIE BONDS: Futures ticked away from lows in early dealing, with little in the
way of direct headline catalysts apparent. A degree of worry may have crept in
ahead of the China Caixin manufacturing PMI print, but the trepidation proved
unwarranted on the back of a slightly stronger than expected Chinese Caixin
manufacturing PMI release (even though the metric remained in contractionary
territory). The print allowed futures to move back from SFE session highs.
- The latest AOFM weekly issuance schedule held no surprises.
- YM last -3.5 ticks, with XM -4.0 ticks. YM/XM trades at 47.5, with the cash
equivalent at 48.3bp. The AU/U.S. 10-Year yield spread trade at -56.9bp.
- Bills are running unch.-4 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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