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Struggling For Meaningful Traction

AUSSIE BONDS

The space is struggling to garner much in the way of lasting traction when it comes to movement away from Friday’s settlement levels, even with U.S. Tsys starting the new week on the backfoot, signs of continued strength re: the domestic labour market (as evidenced by the earlier ANZ job ads print) and another move higher in Melbourne Institute inflation expectations (with the headline Y/Y metric moving to the highest level observed since ’08) noted. YM -1.5 and XM -1.0 at typing, with the cash ACGB curve twist flattening as 20s and 30s observe some light richening.

  • Note that there is some political uncertainty in the air, with the opposition Labour Party leading in the polls ahead of the upcoming Federal Election (set to be held in May), although it would seem that the ruling coalition is chipping away at Labour’s lead.
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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