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Soft Chinese trade data has pushed.....>

AUSSIE BONDS
AUSSIE BONDS: Soft Chinese trade data has pushed futures to fresh SFE session
highs in recent trade.
- YM last trades +2.0 ticks, with XM +6.5 ticks. YM/XM trades at 43.0, with the
cash equivalent at 43.6bp. The AU/U.S. 10-Year yield spread trades at -61.9bp.
- Bills trade 2-5 ticks higher at writing.
- NAB were the latest to jump on the RBA cut bandwagon, looking for the central
bank to cut rates twice in 2019, once in July and once in November. NAB wrote
that "growth appears to have lost significant momentum, placing at risk further
improvement in the labour market at a time when inflation poses little
constraint on policy and financial stability risks have abated."
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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