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Futures Ticking Lower

AUSSIE BONDS

Aussie bond futures have declined on the back of a modest cheapening in U.S. Tsys, with participants reacting to previously-flagged Fedspeak from Minneapolis Fed Pres Kashkari, while e-minis have paused their earlier downtick (inspired earlier by the weak Chinese PMI print, as well as headlines surrounding U.S. House Speaker Pelosi’s Asian tour). YM and XM are -4.5 and -5.5, respectively, with the former operating around session lows after failing to breach its overnight low. Bills run 3 to 7 ticks cheaper through the reds, bear flattening.

  • Elsewhere, Shanghai has reported no COVID cases for Sunday (vs. five for Saturday), likely helping to counter some worry re: soft Chinese economic data over the weekend. Note that Chinese Caixin m’fing PMI is due later today.
  • Up next, Melbourne Institute Inflation is due at the top of the hour, while ANZ Job advertisements will cross in ~45 mins time.

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