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Stabilising Around Lows

AUSSIE BONDS

The aforementioned stabilisation in core FI markets on the back of a downtick in the Nikkei 225 and e-minis has allowed futures to find a base, leaving YM -2.5 and XM -5.5 at typing, sticking to narrow ranges in recent Sydney dealing. The RBNZ's OCR hike and accompanying statement was pretty much as expected, meaning there was a lack of trans-Tasman impetus evident in the wake of the decision.

  • The 10- to 15-Year zone of the cash ACGB curve has led the broader cheapening, sitting in the region of 5bp cheaper on the day at typing.
10-Year EFPs remain tighter on the day.
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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