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Off Steeps

AUSSIE BONDS

Curve has recovered from early steeps, with YM -0.5 and XM -2.5, given the support for U.S. Tsys during Asia-Pac hours and ahead of the impending local event risk that we have already highlighted and previewed (the latest RBA monetary policy decision and the release of the federal budget).

  • With markets and analysts noting little chance of a move from the RBA, focus will fall on the language that the Bank chooses to deploy surrounding the prospects of further easing (see our full preview for further details on that matter).
  • Bills sit unchanged to -2 through the reds.
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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