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Soft AU retail sales data is...........>

AUSSIE BONDS
AUSSIE BONDS: Soft AU retail sales data is outweighing a wider than expected
trade surplus, owing to the RBA's focus on consumer behaviour alongside the
downturn in housing prices, although the fact that the data covers the holiday
period, and comes on the back of the Black Friday period, may have some pointing
to a degree of noise in the reading.
- Bond futures are trading higher in the wake of the release, YM last +2.0
ticks, with XM +1.0 tick. YM/XM trades at 51.0, as the curve bull steepens, with
the cash equivalent printing at 49.9bp.
- Bills trade 1-3 ticks higher across the whites and reds.
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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