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Lowe Up

AUSSIE BONDS

The flattening impulse supported Aussie bond futures in overnight dealing, leaving YM +1.0 and XM +2.6 come the bell.

  • Residual roll activity will continue through today's Sydney session, with the Sep '21 contracts set to expire on Wednesday.
  • RBA Governor Lowe's Anika foundation address headlines the local docket on Tuesday. The speech will be on the topic of "Delta, the Economy and Monetary Policy." The Governor should flesh out the thought process behind the RBA's most recent monetary policy decision, while we expect him to try and retain a sense of optionality when it comes to the future direction of monetary policy. Elsewhere, RBA Assistant Governor (Economics) Ellis will speak, although that will be in front of the Standing Committee on Tax and Revenue, so the scope for comments re: monetary policy may be somewhat limited.
  • The monthly NAB business survey and quarterly house price index data for Q2 will also hit on Tuesday, as will the weekly ANZ-Roy Morgan consumer confidence print.
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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