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Richer, Curve Marginally Steeper On Wednesday

AUSSIE BONDS

ACGBs sit 1-4bps richer across the major benchmarks, the curve has bull steepened. The support seen early in the session from Wednesday's US Tsy rally gradually faded through the session however ACGBs did hold richer.

  • Futures have trimmed gains through the session, dealing in narrow ranges for the most part. XM sits +0.02 and YM +0.04.
  • RBA dated futures see the cash rate steady in Feb 24 at 4.35%, there are ~60bps of cuts by Dec 24.
  • There was little domestic news flow today.
  • Looking ahead, due tomorrow November Private Sector Credit rounds off the week's docket.

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