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Steeper Still

AUSSIE BONDS

The curve sits a little steeper vs. settlement levels in early Sydney trade given the impetus that has spilled over from the U.S. Tsy space, YM -0.5 and XM -3.0 at typing, with the latter sitting a little above overnight lows. The YM/XM spread has hit the steepest levels seen since the March vol.

  • Broader macro sentiment is likely to dictate price action over the coming days, with the local COVID-19 situation still under scrutiny, while local data releases are unlikely to move the needle.
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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