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Offshore matters and broader market....>

AUSSIE BONDS
AUSSIE BONDS: Offshore matters and broader market risk flows dominated the space
today, even with some local risk events noted. NAB business confidence softened,
the Melbourne Institute inflation estimate registered at 2.1 Y/Y in March, while
local PMI data provided little interest.
- This comes as participants await the latest RBA MonPol decision and federal
budget, with both events due tomorrow.
- The latest 3-Year basket bond auction provided little in the way of fireworks
when adjusted for size vs. the previous auction.
- YM last trades -3.0 ticks, with XM 4.0 ticks lower. YM/XM trades at 43.5, with
the cash equivalent at 39.4bp. The AU/U.S. 10-Year yield spread trades at
-62.1bp.
- Bills trade 2-3 ticks lower 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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