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Not Fussed By Russia Sanctions


YM & XM little changed vs. late overnight levels, after weakness in U.S. Tsy futures applied some modest pressure in post-Sydney dealing. The space is seemingly willing to look through the news re: EU sanctions on Russian oil exports, at least for now. That leaves YM & XM 3.0 below respective settlement levels. Bills run 1-6 ticks cheaper through the reds.

  • A quick reminder that late on Monday (Sydney time) news crossed that the ALP has secured a (slim) majority in the House of Representatives. ABC went on to note that PM Albanese's government will seek the support of Greens, the 'teal independents' and other independents on the crossbenches to strengthen the passage of legislation through parliament. Meanwhile, in the Senate, the ALP will have to rely on support from crossbench senators to secure a majority.
  • Looking ahead to today’s docket, local matters will be headlined by the final round of Q1 GDP partials ahead of the release of the national accounts on Wednesday. Elsewhere, private sector credit and building approvals data will hit, with the latest weekly ANZ Roy Morgan consumer confidence print also due. Further afield, Chinese official PMI data could provide some impulse for the space.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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