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Post-Holiday Selling Pressure

AUSSIE BONDS

Australian yield curve bear steepens as cash trading re-opens after Easter holidays. Yields last seen 7.3bp-11.0bp, with Australia/U.S. 10-Year yield spread now at 23bp.

  • Futures come under pressure as YM trades -3.5 & XM -4.5 as we type. Eurodollars run unch. to -4 ticks through the reds.
  • The minutes from the RBA's most recent policy meet headline the local economic docket today, with participants on the lookout for any hints on policymakers' rate-hike plans.

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