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Semi Bond Launch Adds Local Element To Broader Weakness

AUSSIE BONDS

The previously covered Fedspeak & Chinese property stimulus combination has continued to weigh on ACGBs as the session has worn on, with the launch and impending pricing of the new NSWTC Feb-35 benchmark bond that was flagged at the back end of last week adding a local element to the weakness. Cash ACGBs are 9.5-10.5bp cheaper across the curve, In what has been a fairly parallel shift. Bills now sit 3-15bp cheaper through the reds, with the back end of the strip catching up after lagging the early weakness.

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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