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Momentum In The Driving Seat?

AUSSIE BONDS

Hard to pin down a clear overt headline trigger for the ACGB weakness observed in early Sydney dealing, with a leak lower in the space seemingly aided by YM & XM breaching their respective overnight lows, alongside a modest widening of EFPs & swap spreads (momentum remaining king with wider market liquidity thinned by the previously flagged holidays in Asia & London?). That leaves YM & XM 5.0 ticks below their respective settlement levels, while Bills run 1-7bp cheaper through the reds.

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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