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Holding Lower

AUSSIE BONDS

YM -2.0 & XM -2.5 at typing, with the space looking through some local matters.

  • The daily state COVID case counts saw a new record for NSW (919), while new cases in Victoria pulled back below the 50 level.
  • As a reminder, commentary from Australian PM Morrison and NSW Premier Berejiklian have started to focus on hospitalisation/serious cases in recent days, as opposed to the outright case count.
  • On the supply front the A$1.0bn ACGB May '32 round of supply sees the average price print 0.36bp through prevailing mids at the time of supply (per Yieldbroker), with the cover ratio holding above 5.0x.
  • The space looked through the above events.
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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