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Renewed global equity weakness.........>

AUSSIE BONDS: Renewed global equity weakness allowed 10-year Aussie futures to
hold their Sep 26 lows at 97.20 but the recovery has been week with gains capped
at 97.25. The 3-year future is underperforming, down 1.5bps to trade at 97.86,
below yesterday's lows.
- 10-year cash yields have recovered early loses to trade down just 1.4bps at
2.754%, with the 2s-10s curve seeing bearish flattening, trading at 69.20bps,
edging down from 8-month highs.  
- The AU-US spread has risen from last week's lows and sits at -48.1bps, up 5bps
from Friday's low. The real yield spread has also narrowed 2bps from yesterday's
low to -21.57%.

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