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Local COVID Matters Dominate Again, RBA Decision Due Tuesday

AUSSIE BONDS

Aussie bond futures were unable to benefit from the richening in U.S. Tsys evident after-hours, with YM & XM both finishing -0.5 vs. their respective Sydney settlement levels in very limited post-Sydney trade.

  • The weekend saw the local COVID developments continue to dominate Australian headline feeds, with Sunday seeing NSW record a record-equalling 239 new COVID cases, while Brisbane moved into a state of lockdown in the wake of 6 new COVID cases being discovered in the city.
  • CoreLogic house prices, ANZ job ads, Melbourne Institute inflation and m'fing PMI readings headline the domestic docket on Monday. The latest round of scheduled ACGB purchases from the RBA is also due. Looking ahead, tomorrow's RBA monetary policy decision dominates the local docket, with near unanimous expectations for the central bank to renege on its tapering move (which wasn't scheduled to get underway until September), expect our full preview of the decision to be released by the London morning at the latest.
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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