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Steeper Again, Local Risk In Focus On Tuesday

AUSSIE BONDS

Offshore impetus drove futures steeper overnight, with YM -0.5 and XM -5.0 at typing as a result, while the cash curve plays catch up after the elongated weekend. This comes after longer dated U.S. Tsy yields tagged multi-month highs on Monday, driven by matters we have already mentioned elsewhere.

  • Bills sit unchanged to -2 through the reds.
  • As we mentioned yesterday, today's focus will fall on the RBA decision (see our full preview for further details) and the release of the federal budget (see our primer bullet for more on this particular matter). Elsewhere, the monthly trade balance and ANZ job ads readings are due.
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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