Little Changed, Subdued End To Week For US Tsys, Light Local Calendar

ACGBs (YM flat & XM +1.0) are little changed after US tsys finished 1bp cheaper to 2bp richer across the major benchmarks on Friday. The curve twist flattened pivoting on 3s. On Friday tsys observed narrow ranges, with the data calendar light.

• There is no US economic data of note today either. Market participants await details on this week's KC Fed Economic Policy Symposium in Jackson Hole: ‘Structural Shifts in the Global Economy,’ from August 24 to August 26 (schedule/attendees list is likely announced on the evening of the 24th).
• Cash ACGBs opened flat to 1bp richer, with the AU-US 10-year yield differential 4bp tighter at -3bp.
• Swap rates are 1bp lower.
• The bills strip has twist flattened with pricing -1 to +1.
• RBA-dated OIS pricing is little changed.
• Unions at Woodside Energy Group's North West Shelf offshore gas platforms on Sunday announced plans to strike as early as Sept. 2, which could eventually disrupt shipments of liquefied natural gas (LNG) from top global exporter Australia.
• Australia may host a visit from China's Foreign Minister, although no firm dates have been announced yet.
• This week the local calendar is very light, with Judo Bank PMIs on Wednesday being the only release.