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Legging Lower Into the Close

AUSSIE BONDS

Another leg lower results in fresh cycles lows in both YM & XM ahead of the close, with the contracts sitting a touch above worst levels at typing, -14.0 & -16.5, respectively. The previously outlined perfect storm of a continued hawkish repricing of RBA rate hike expectations, momentum, a jump higher in BBSW fixings and trans-Tasman impetus from the wage component observed in the latest NZ labour market report is behind today’s cheapening.

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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