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No Lasting Reaction To Labour Market Report

AUSSIE BONDS

Little in the way of net movement in the wake of the better than expected labour market report, with YM +1.5 & XM +4.5 at typing, after a blip lower on the data. A reminder that the RBA's most recent SoMP did not look for a drop to 5.0% unemployment until Q421. Still, it will be wage growth and realised inflation that drives the medium-term evolution of the RBA's cash rate (at least based on current Bank guidance).

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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