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Little to talk about in Aussie bonds...>

AUSSIE BONDS: Little to talk about in Aussie bonds with ACGB & corporate supply
noted. The main contracts stuck to tight ranges after the SYCOM sell-off.
- NAB adopted a more aggressive RBA call and now look for a move to 0.50% come
the end of February, "at which point the Reserve Bank would outline its plans on
unconventional policy. Unless the government delivers a meaningful fiscal
stimulus, a further cut to 0.25% by mid-2020 is likely, along with the adoption
of non-conventional monetary policy measures."
- YM -3.0, XM -5.25. YM/XM sits at 26.0 as a result with the cash equivalent at
- Bills 1-4 ticks lower through the reds, excluding IRU9 which is +2 ahead of
tomorrow's expiry.
- Consumer inflation expectations headline tomorrow's docket.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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