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It has been a relatively quiet start...>

AUSSIE BONDS
AUSSIE BONDS: It has been a relatively quiet start for Bond futures, after the
space followed Tsys higher on SYCOM, with the domestic 3-/10-Year cash yield
differential flattening by ~1.5bp in early dealing to 63bp.
- On the semi-gov't front Victoria has mandated banks for 3-Year fixed rate bond
issuance. 
- Shorter dated Bill contracts have underperformed, last dealing unchanged to 3
ticks lower, with the reds 1 to 3 ticks higher last. Similar moves were observed
in the U.S. Eurodollar strip on Thursday, as the front end was pressured by a
higher 3-Month $ LIBOR fix.
- It is worth noting that were will be some notable redemptions in the space on
Monday.
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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