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Steeper Overnight, Lower Tier Data Due

AUSSIE BONDS

Futures softened in overnight trade, looking to U.S. Tsys for impetus, with YM -1.0 and XM -5.0 at typing, operating a little off their respective post-settlement troughs. The cash ACGB curve has bear steepened.

  • Weekly ABS payroll and ANZ consumer confidence data headline locally on Tuesday. Re: the former, a quick reminder that the Australian Government's JobKeeper scheme expired over the weekend. Most do not expect much in the way of a meaningful impact from the expiry of the scheme (at least in terms of hampering the recent progress on the unemployment front), although the cessation of the programme will likely introduce a non-linear ebb and flow to job market developments in the coming weeks/months.
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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