January 25, 2023 02:45 GMT
Post-Data Cheapening Continues
AUSSIE BONDS
Aussie bonds continue their post-CPI cheapening, with futures registering fresh session lows in recent dealing, leaving YM -8.0 and XM -2.5. Wider cash ACGBs run 1.0-8.5bp cheaper across the curve, bear flattening. Meanwhile, Bills sit 9-12bp cheaper through the reds, while RBA dated OIS now puts the terminal cash rate above 3.65% after showing below 3.50% pre-data. A reminder that Australian markets are closed on Thursday, owing to the observance of a national holiday.
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