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Holding Cheaper, Off Session Lows

AUSSIE BONDS

ACGBs have pared early losses and now sit ~2bps cheaper across the major benchmarks. Support has been seen on spillover from Tsys as Asian participants used yesterday's cheapening to adjust positioning which has seen tsys tick higher.

  • Futures are holding lower, XM sits down 0.03 and YM is down 0.04.
  • RBA dated OIS are stable this morning, the bank's monetary policy decision crosses in a touch under 3 hours.
  • There has not been any meaningful macro newsflow this morning and ranges remain narrow.

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