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New Cycle Lows For Futures

AUSSIE BONDS

Sydney participants start the day with a fresh round of selling, allowing YM and XM to take out their respective cycle troughs in the process, with the former -6.0 and the latter -4.0 at typing. Nothing in the way of overt domestic headline flow to trigger the initial weakness, with it probably being a case of momentum tracking and some reaction to the breach of the previous cycle troughs, mixed in with higher NZGB yields in the wake of the latest labour market report from across the Tasman.

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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