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Supply & NSW COVID At The Fore

AUSSIE BONDS

The cheapening in the U.S. Tsy space dragged futures steeper overnight, leaving YM -3.5 and XM -5.5 at the close.

  • Most of the local focus will continue to fall on the COVID situation in NSW (with the anticipated fiscal support package re: that matter now outlined), although there is A$800mn of ACGB 1.25% 21 May 2032 supply and the latest Westpac leading index print to digest/observe.
  • A reminder that Tuesday saw SAFA launch a new 2.00% May 23 '36 bond for up to A$1bn, which is set to price today.
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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