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Free AccessOvernight Moves Hold
A relatively restrained start to this week’s Aussie bond trade (broader liquidity is hampered by the U.S. Memorial Day holiday) sees futures consolidate around late overnight/early Sydney levels, with YM -2.5 & XM -1.0 at typing. The former had a brief and shallow look through overnight lows, but trade has been restrained. Cash ACGB trade sees 3s provide the weak point on the curve, siting ~3bp cheaper on the session. EFPs are incrementally wider on the session. Accordingly, Bills continue to hold narrow ranges, running 2-4bp cheaper through the reds, on light volume.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.