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Lower Into The Bell

AUSSIE BONDS

The downtick in U.S. Tsy futures spilled over into Aussie bond trade on Monday, allowing the space to erode overnight session gains as we moved through Sydney dealing, with major futures contracts going out at worst levels of the Sydney session, YM -2.0 and XM -0.5. It would seem that higher oil prices and a lack of easing from the PBoC (via today’s LPR fixings) allowed the space to travel lower as we moved through Sydney dealing, meanwhile, the wider spread re-opening of offices & manufacturing facilities in the Chinese city of Shenzhen may have applied some incremental cheapening pressure.

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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