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Lead Bond futures hover around best....>

AUSSIE BONDS
AUSSIE BONDS: Lead Bond futures hover around best recent levels with broader
risk off tones underpinning in early Asia-Pacific trade. Matters surrounding the
arrest of the Huawei CFO in Canada dominated over the weekend. China summoned a
U.S. ambassador over the matter and delivered Canada with an ultimatum re: her
release. Comments from the RBA's Kent hit in early hours today. Kent noted that
the Australian economy is making some progress on unemployment and inflation but
highlighted that it is gradual. Kent also reiterated that the next move in the
cash rate is likely up but didn't rule out a cut if warranted. Kent also noted
that there is a risk that bank credit supply tightens unnecessarily and seemed
worried that banks have tightened loans to small firms.
- The bill strip trades flatter with the whites and reds 1 tick lower to 2 ticks
higher at writing.
- RBA conducted 65-day reverse repos at 2.082%, while 3-Month BBS fixed some
0.04bp higher today.
- Focus moves to a 10-Year basket bond auction due at the top of the hour, ahead
of NAB biz. confidence data later this week.
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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