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Offshore Matters Continue To Dominate

AUSSIE BONDS

Offshore cues from U.S. Tsys remain front and centre after the early Sydney vol. with futures operating above their respective session troughs (note that XM pushed through its early Sydney low before recovering). That leaves YM -8.5 & XM -7.0 at typing, with 3s continuing to provide the weak point in cash dealing. EFPs sit 0.5-1.bp wider on the day. Bills are generally following the gyrations in bonds, with the IR strip running 7-11 ticks lower through the reds, with latter whites and early reds leading the move lower.

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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