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Rangebound

AUSSIE BONDS

A mundane morning for the space, with the latest NAB business survey showing a moderation from very upbeat levels (in terms of both confidence and conditions), with the risk seemingly for a lower print next month given the lockdown situation in Sydney. YM unch., XM -1.5. The 10- to 12-Year zone of the cash ACGB curve is seeing the largest degree of cheapening on the day, with yields in that zone a little over 1.0bp higher vs. closing levels.

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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