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Off Best Levels, Event Risk Leaves Wider Gyration At The Fore

AUSSIE BONDS

A relatively narrow start for ACGBs sees futures mirror the tone observed in U.S. Tsys, with proximity to the impending event risk (RBNZ decision & U.S. CPI data) likely limiting activity. YM is +0.5 at typing, while XM is +2.0, with the contracts sticking within their respective overnight ranges. Cash ACGBs played catch up to the overnight richening early on, and now sit little changed to 3bp richer across the curve, bull flattening. EFPs are marginally narrower on the day. Bills run +2 to -2 through the reds, twist steepening.

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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