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Just Off Session Lows

AUSSIE BONDS

Aussie bond futures operate just off their respective Sydney lows, with YM -7.0 & XM -4.5, as the impulse from U.S. Tsys remains in the driving seat

  • Cash ACGBs run 4.5-7.5bp cheaper, bear flattening, with the space unwinding around 50% of yesterday’s post-RBA bid.
  • RBA-dated OIS has nudged higher, in sympathy with Fed-dated OIS movements since yesterday’s local close, leaving terminal rate pricing showing back above 4.05%.
  • The AU/U.S. 10-Year yield spread is little changed around the -27bp mark.
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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