Looking Through Local Data

Aussie bonds look through the latest round of domestic data releases as housing finance misses and building approvals beats, with it being a case of the space having much more pertinent matters at hand. The early bid has been underpinned by the previously alluded to Sino-U.S. tension surrounding Taiwan, with most of the major regional equity indices and U.S. e-mini futures trading lower during early Asia-Pac trade. That leaves YM just shy of best levels +4.0 at typing, while XM is +9.5, also trading just shy of its own peak. A reminder that the impending RBA decision provides the clear source of domestic interest today.