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Holiday Lull Continues Before RBA Takes Focus

BOND SUMMARY

T-Notes are rangebound and last trade unch. at 132-10+, with Eurodollars last seen -0.5 to +0.5 tick through the reds & with cash Tsys closed owing to a market holiday in Tokyo. It goes without saying that JGBs also remain closed. Headline flow has been very thin thus far, with holidays in China further limiting activity in the region.

  • Australian YM trades flat & XM sits +1.5, both stick to tight ranges. Cash ACGB curve has bull flattened a tad, absorbing impetus from the U.S. Tsy space. Bills trade unch. to -1 tick through the reds. Monthly trade balance & housing finance data will be released in the lead-up to the RBA's monetary policy decision, scheduled for later today.

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