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Steeper To Start The Week

AUSSIE BONDS
YM -0.5, XM -3.5, with the latter extending through SYCOM lows.
  • Aussie bonds under some steepening pressure in early trade this
    week, with the AOFM formally announcing the launch of its new
    ACGB Jun '51. Perhaps the initial guidance on the line is applying
    some pressure, given the fact the announcement was widely
    expected to come today. Although it could also be the fact that the
    AOFM noted that there will be no further issuance of the line prior to
    Nov '20, which could mean that the AOFM may look to issue a
    larger amount of the bond in the current syndication.
  • Local focus falls on the record COVID-19 case count/death toll
    registered in Victoria over the weekend, and ever deepening Sino-
    Aussie tension.
  • Also worth noting that RBA Asst. governor Kent will speak at the
    Kanga News webinar from the top of the hour.
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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