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Looking Through Local Matters

AUSSIE BONDS

YM -1.0 and XM -5.0. The space looks through softer than expected local retail sales data and a firm round of ACGB Nov '25 supply, with the latter's average yield printing ~0.9bp through prevailing mids at the time of supply (per BBG pricing). Focus now turns to the release of the AOFM's weekly issuance docket. There hasn't been much speculation re: the prospect for the impending launch of an ACGB November 2032 syndication this time around, with one notable market participant even suggesting that the syndication could be delayed until next FY, owing to the government's better than expected cash balance situation.

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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