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Stabilising After Post-RBA Dip

AUSSIE BONDS

Futures stabilised in overnight trade, with the U.S. Tsy complex finishing unchanged to a touch richer on Tuesday. A light bid has been in play since the Sydney re-open, alongside a similar move in T-Notes, leaving YM +0.5 and XM +3.5 at typing.

  • Looking to today's session, Q4 GDP headlines the local docket, with ABS payrolls data also due. Hard to quantify in exact terms, but given the recent run of stronger than expected data there may be some asymmetry in the potential market reaction to the GDP reading, suggesting the potential for a larger reaction to a downside miss than an upside beat.
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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