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Struggling To Rally, Steepening Holds

AUSSIE BONDS

The space has struggled to rally meaningfully from early Sydney cheaps, leaving YM unch. & XM -4.0, with the steepening impulse holding, as the space adjusts to the BoJ-centric news flow observed since Friday’s NY close and Friday’s broader market moves. This leaves wider cash ACGBs flat to 5bp cheaper across the curve. EFPs operate around late Friday levels. Bills sit flat to +2 through the reds. Broader macro factors remain at the fore, with little in the way of domestic inputs observed thus far.

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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