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Mixed Messages

AUSSIE BONDS

Overnight trade saw participants continue to assess the balance of short-term economic hits stemming from wider spread social restrictions (most notably in the U.S.) vs. positive news surrounding COVID vaccine matters (albeit with questions surrounding broader distribution of the vaccines remaining evident).

  • YM last deals unchanged on the day, with XM -1.0. The latter has recovered from its SYCOM lows, which came on the back of a soft 20-Year Tsy auction from the U.S. School closures in New York then came to the fore late in the NY session, allowing the contract to bounce.
  • Bills sit unchanged to -1 through the reds.
  • The monthly labour market report headlines the Australian docket today, with RBA ACGB purchases also on the slate. The COVID situation in South Australia will continue to be scrutinised.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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