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Stabilising

AUSSIE BONDS

YM and XM hover just above their respective Sydney lows, YM -1.0, XM -4.0, in what has been fairly limited trade. Softer than expected official Chinese PMI data helped the space find a bit of a base after what seemed to be a case of offshore-related pressure (as highlighted earlier). Next week's AOFM issuance slate is relatively vanilla. The latest round of ACGB Jun '31 supply saw the weighted average yield stop 0.73bp through prevailing mids at the time of supply (per Yieldbroker pricing), meanwhile, local private sector credit growth topped exp.

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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