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Stabilising Around Lows After Early Move Lower Extends

AUSSIE BONDS

Aussie bonds have stabilised around session cheaps after the initial cheapening move extended, leaving YM -20.0 and XM -23.0, with the early bear steepening move intact, leaving the wider cash ACGB benchmarks running 15-23bp cheaper. Bonds lead the move, outpacing swaps, with EFPs narrower on the day. In the short end, Bills sit 5-19bp cheaper through the reds, with the back end of the whites and front end of the reds leading the weakness. Macro and domestic headline flow remain light.

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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