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Post Data Gains Trimmed


Aussie bonds are marginally richer after the July CPI y/y print, which came in at 4.9% (versus 5.2% forecast). Other data on Q2 construction work done was also weaker, as were building approvals for July (-8.1%m/m, versus -0.5% forecast).

  • Bond Yields sit 4-6bps richer across the major benchmarks, the curve is marginally steeper. Yields were ~2-4bps richer pre-data.
  • Futures are off best levels, XM +0.045 at 95.95 having printed a post data high of 95.9750. YM +0.06 at 96.230, the post data high was 96.27.

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