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Pressured After Unemployment Rate Ticks Lower

AUSSIE BONDS

ACGB's sit 6-12bps cheaper across the major benchmarks, the curve has bear flattened.

  • Futures are also pressured, XM (-0.066) and YM (-0.118).
  • The May Labour Report showed a net gain of 75.9k jobs with the unemployment rate ticking unexpectedly lower to 3.551% falling 0.13% on the month.
  • Earlier in the session June Consumer Inflation Expectations held steady at 5.2%.
  • RBA Dated OIS now price a terminal rate of 4.56% in December.
  • The domestic data calendar is empty tomorrow.

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