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Labour Market Data Awaits

AUSSIE BONDS

The latest round of ACGB supply (in the form of A$1.2bn of ACGB Jun '31) wasn't the firmest, with the cover ratio on the softer side, albeit not as soft when adjusted for the size differential vs. the prev. auction, while the weighted average yield "only" printed 0.17bp through prevailing mids at the time of supply (per Yieldbroker prices). Still, no real reaction was seen in futures, which held to narrow ranges. YM -0.5, XM +1.0 on the day at typing.

  • Elsewhere, Australia's Q1 wage price readings provided marginal beats vs. expectations, but won't be seen as a real gamechanger for the RBA.
  • Thursday's local docket will be headlined by the monthly labour market report.
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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