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Plenty Of Risk At Home & Abroad This Week

AUSSIE BONDS

Late weakness in the U.S. Tsy space and focus on the seemingly impending round of RBA easing has allowed the Aussie bond space to outperform U.S Tsys since Friday's closing bell in Sydney, with the AU/U.S. 10-Year spread now trading back towards -5bp.

  • YM unchanged, with XM -1.5, with the latter testing its SYCOM lows early this week.
  • Bills unchanged to -1 through the reds.
  • The weekend saw Australia record its first daily instance of no local COVID cases since June.
  • A$1.5bn worth of ACGB 0.25% 21 November 2025 supply is due today. The local m'fing PMIs have had no meaningful impact on the market, with CoreLogic house price data due later today.
  • There is plenty of local and international risk on the docket this week. For the former, the latest RBA decision and SoMP headline (with a broad round of monetary easing expected, our full preview should be published during the London morning), with the U.S. election & FOMC set to dominate elsewhere.
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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