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In a note released Wednesday RBC.......>

AUSSIE BONDS
AUSSIE BONDS: In a note released Wednesday RBC stated that they are "biased
toward buying bonds entering the Dec futures baskets, and selling those
leaving."
- On this basis they recommend selling Nov-20s, buying Nov-22s and selling
Nov-27s, all on micro 50/50 fly structures "a little away from market, and
advocate patience in entering these trades."
- Trade #1: Sell Nov-20s vs Apr-20s and May-21s 50/50 yield fly at 1bp.
- Trade #2: Buy Nov-22s vs Jul-22s and Apr-23s 50/50 yield fly at 4bp.
- Trade #3: Sell Nov-27s vs Apr-27s and May-28s 50/50 yield fly at 1.75bp.
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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