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Holding The Bulk Of RBNZ-Inspired Cheapening


The post-RBNZ cheapening in ACGBs has largely held, with offshore matters in the driving seat during Wednesday’s trading session. YM is -4.0, while XM is unchanged on the day, as both contracts hover a little above worst levels of the session. Meanwhile, cash ACGBs run 4bp cheaper to 2bp richer across the curve, twist flattening, with a pivot around 10s. Participants remain on headline watch as we move into the last hour of Sydney dealing.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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