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Holding Steeper

AUSSIE BONDS

Nothing in the way of reaction seen in the space on the back of the release of the RBA's May meeting minutes. This isn't surprising, with the meeting itself already putting focus on the Bank's July decision, where it will decide on whether or not to extend the coverage of its yield targeting scheme to ACGB Nov '24 from ACGB Apr '24. The July meeting will also see the Board consider future bond purchases, with the second A$100bn round of purchases under its government bond purchase program set to be exhausted in September. YM -0.5, XM -4.0, hovering a little above their respective worst levels of the session.

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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