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Steeper, XM Shows Below 99.00

AUSSIE BONDS

Tsy dynamics pressed the space lower overnight, with continued weakness seen in early Sydney dealing. YM prints 1.0 tick lower on the day, with XM -7.0, as the latter shows below 99.00 and steepening extends.

  • On a more localised front, Sino-Aussie tensions continue to simmer, with Chinese authorities banning beef imports from Australia's John Dee abattoir.
  • Bills unchanged to -1 through the reds, with a decent run of activity in IRZ0 in early trade (flagged in an earlier bullet).
  • Focus today will fall on the AOFM's weekly issuance schedule.
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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