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Little to report locally, with the.....>

AUSSIE BONDS
AUSSIE BONDS: Little to report locally, with the space being driven by offshore
gyrations for the time being. The bid in Tsys/sell-off in Asia-Pacific equities
leaves the main local contracts off of worst levels.
- YM -4.0 ticks, with XM -5.0 ticks. YM/XM trades at 40.0 ticks, with the cash
equivalent at 35.7bp.
- The latest auction saw the average price fall pretty much in line with the
when issued price, although the cover ratio softened and gap to the high yield
widened a touch when compared to the previous auction.
- Bills trade 3-4 ticks lower through the reds.
- Focus will return to onshore matters throughout the week, with the latest NAB
business survey due tomorrow and a speech from RBA Deputy Governor Debelle due
Thursday (in NY hours).
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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