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Shift To Smaller Ticks Vs. Event Risk

AUSSIE BONDS

The start of the overnight session saw Aussie bond futures contracts move to smaller tick increments. This has resulted in a boost in activity for the XM roll, which sees ~50K lots cross (80% of that on the bid and over 90% of that at one price), although YM roll activity remains fairly limited (less than 12K lots trade there, with a bias to trading on the offer). The presence of the impending U.S. NFP release may be limiting activity for now. Then final trading day for the Z3 contracts is next Friday.

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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