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Global flows dragged the space lower...>

AUSSIE BONDS: Global flows dragged the space lower on SYCOM, with YM -5.0 & XM
-6.25 at writing, a touch above their respective overnight lows. The overnight
flow allowed the curve to steepen, with YM/XM last at 25.5 and the cash
equivalent at 25.1bp.
- Swap spreads have continued their narrowing.
- Bills deal 1-5 ticks lower through the reds.
- Westpac consumer confidence & A$800mn worth of ACGB 2.50% 2030 supply headline
the local docket today.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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