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Off Session Lows

AUSSIE BONDS

Aussie bonds have nudged away from session lows amidst a similar move in U.S. Tsys. Headlines surrounding U.S. House Speaker Pelosi’s trip to Taiwan have aided the limited move higher, with strongly-worded rhetoric from Chinese Foreign Minister Wang Yi and China’s move to ban exports of sand to Taiwan taking focus, although little by way of fresh military escalation has been observed at present (keeping in mind prior remarks that the Chinese military “won’t sit idly by” re: Pelosi’s visit). Cash ACGBs run 6.0-13.5bp cheaper across the curve, bear flattening. YM is -11.0 and XM is -9.5, easing away from their respective session lows, while Bills run 2 to 15 ticks cheaper through the reds, bear steepening.

  • Results from today’s sale of A$800mn of the 1.75% 21 Nov 2032 Bond (issue #TB165) are due at the top of the hour.

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