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Steeper, Tracking Tsys

AUSSIE BONDS

Aussie bond futures tracked the gyrations in the U.S. Tsy space in post-Sydney dealing, initially going bid, peaking after softer than expected U.S. PPI data, before registering fresh session lows late in the overnight session, with the YM/XM curve bear steepening. That leaves YM -8.0 and XM -12.0 in early Sydney trade, a little off overnight lows. Meanwhile Bills run +1 to -11 through the reds, twisting steeper.

  • There hasn’t been much in the way of meaningful domestic news flow to digest since Thursday’s Sydney close.
  • Looking ahead, A$700mn of ACGB Sep-26 supply and the release of the AOFM weekly issuance slate present the domestic highlights ahead of the weekend.
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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