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Steepening was evident overnight as....>

AUSSIE BONDS
AUSSIE BONDS: Steepening was evident overnight as stronger than expected
headline tier 1 U.S. data applied pressure to core global FI after the initial
shunt lower on the back of the latest Sino-U.S. trade developments.
- YM -6.0, XM -9.5. YM/XM sits at 26.0.
- The cash space has played catch up to overnight developments with Aussie paper
continuing its recent run of underperformance vs. Tsys.
- Bills sit 1-6 ticks lower through the reds.
- Local PCI data had no impact on the space, with participants looking to the
broader risk backdrop and the ACGB issuance announcement due later today.
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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