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Little Changed On Friday

AUSSIE BONDS

ACGB's sit little changed from Thursdays closing levels across the major benchmarks after ticking away from early session highs, coming alongside a moderate cheapening in US Tsys.

  • Cash ACGB's have opened dealing 2-4bps richer across the major benchmarks, however spillover from US Tsys saw gains pared through the session.
  • Futures have also ticked away from session highs, XM is flat and YM sits +0.010.
  • RBA dated OIS remain stable, a terminal rate of 4.56% is seen in December.
  • Looking ahead the data calendar is thin next week with the RBA minutes of the June policy meeting on Tuesday and Judo Bank PMIs on Friday the only data of note.

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