Looking Through Record NSW Case Count

The daily NSW COVID update saw new COVID cases top 1,000 for the first time, although the bond market looked through the headlines, with policymakers now having pivoted the focus of their recent comments to vaccinations and severe cases/hospitalisations. Nonetheless, the broader regional NSW area has extended the period that it will observe lockdown through September 10. Elsewhere, the NSW Premier noted that NSW households with vaccinated adults will start to enjoy slightly looser restrictions, although situations inside and outside of "areas of concern" are slightly different. The Premier also asked the community & businesses to prepare for a wider opening up when NSW hits the 70% double dose vaccination threshold with regards to the eligible population, which she says could come in mid-October.

• YM -2.5, XM -3.0, holding to narrow ranges thus far. Cash ACGB trade sees the 5- to 15-Year sector lead the cheapening.
• Q2 CapEx data is due at the bottom of the hour.