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RBA Enforcement

AUSSIE BONDS

As flagged earlier, the RBA has stepped in to enforce its 3-Year yield target, which has added some support to the space, with YM and XM now back to unchanged levels unwinding the overnight steepening since Sydney trade got underway.

  • In terms of market activity, the aforementioned enforcement of the RBA's 3-Year yield target saw ~15.0K lots of YM trade in a one-minute window, lifted at one price.
  • Local data saw a mix of firmer than expected exports and softer than expected imports provide a much wider than expected trade surplus for the month of October, while the latest round of housing finance data came in on the softer side of exp.
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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