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Limited Moves Ahead Of RBA

AUSSIE BONDS

YM & XM hover around the middle of their respective Sydney ranges with a lack of meaningful impetus observed after the initial uptick shortly after the re-open. There hasn’t been much in the way of domestic headline flow to really move the needle for the market. YM +7.0 & XM +5.0 as a result, with the curve bull steepening in the wake of Monday’s twist steepening in the U.S. Tsy space. Bills tun 3-8 ticks higher through the reds, generally tracking the moves in bonds. Focus remains squarely on the RBA, which is likely limiting wider activity.

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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