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Holding Cheaper

AUSSIE BONDS

Aussie bond futures have held on to the bearish impetus that became apparent in overnight dealing, with YM -5.0, testing its overnight base, while XM is -6.5, extending through its own overnight trough, as Sydney reacts to Wednesday’s weakness in core global FI markets.

  • Cash ACGBs run 4-0.65bp cheaper across the curve, with the 10- to 12-Year zone leading the way lower.
  • EFPs are little changed, while Bills run 2 to 6 ticks cheaper through the reds.
  • The space looked through softer than expected NZ retail sales data from across the Tasman, with participants remaining on headline watch given the non-existent local docket, while the proximity to the Jackson Hole symposium may limit market activity.

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