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Muted Pre-Christmas Session; Closed Monday, Tuesday


ACGBs sit 1bp richer to 2bps cheaper across the major benchmarks, the curve has twist steepened pivoting on 10s. The space observed a muted pre-Christmas session with ranges narrow and activity limited.

  • Futures are little changed from opening levels, XM sits at 95.95 (-0.02) and YM at 96.37 (+0.01).
  • November Private Sector Credit was in line with expectations and there was little reaction in the space.
  • RBA dated futures have been steady in recent trade, there are ~60bps of cuts priced by Dec 24.
  • A reminder that Australian markets are closed Monday and Tuesday and will reopen on Wednesday.

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