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No Pre-Auction Concession For XM (At Least Today)

AUSSIE BONDS

Nothing in the way of notable outright concession in futures ahead of today's A$2.0bn ACGB Nov '31 supply, with XM unchanged on the day at typing after the intraday recovery in U.S. Tsys allowed the contract to recover from lows during the overnight session. However, we should stress that the Aussie bond space was subjected to pressure on Tuesday, which may of at least partially reflected some pre-auction concession, although there was at least some spill over from the sell off in U.S. Tsys witnessed during Asia-Pac hours.

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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