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Issuance Eyed

AUSSIE BONDS

The COVID news flow witnessed over the weekend (and flagged in earlier bullets) has had nothing in the way of a tangible impact on the space, leaving YM & XM -0.5 vs. settlement levels at typing. Cash ACGB trade has seen some incremental twist flattening. A reminder that ACGB Nov '31 supply headlines the local docket today. Some desks have noted that they expect Kangaroo SSA issuance to continue over the week, while the lower yield-flatter curve dynamic may drive the continuation of opportunistic issuance from Semis (especially given the widespread COVID lockdowns evident across the major capitals).

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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