Off Best Levels, Cash ACGBs Twist Steepen

Futures are back from their early Sydney highs, YM unch., XM +0.5. The cash ACGB curve has seen some light twist steepening, with the long end sitting ~2.0bp cheaper on the day at typing. The new local COVID case count numbers remain limited in the grander scheme of things, although that hasn't stopped some of the sell-side names with more hawkish calls re: next week's RBA decision from tempering their calls a little (or at least warning on the prospects of an RBA taper). Month-end index extension projections are light (AusBond Composite at a mere +0.034 Years), with desks flagging expectations for a lack of support on that front.