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Holding Steeper Despite State Lockdown

AUSSIE BONDS

YM -0.5, XM -2.5, while cash ACGBs sit steeper and swaps narrow vs. ACGBs across most of the curve.

  • The space continues to look through local COVID matters, despite recent confirmation that the state of Victoria will enter a fresh 5-day state lockdown as a circuit breaker.
  • The AOFM's weekly issuance schedule provided another atypical round of issuance, with a wider spread of maturities set to be offered over 3 auctions next week (see earlier bullet for details).
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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