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A solid round of ACGB Nov '31 supply was seen in Australia, with the weighted average yield printing 0.52bp through prevailing mids at the time of supply (per Yieldbroker pricing), XM rallied after the auction. Futures continue to observe relatively narrow ranges and are back from best levels, with YM -0.5 and XM +2.0 on the day at typing.
- A strong round of building approvals data did little for the space.
- A reminder that an address from RBA Deputy Governor Debelle (titled "Monetary Policy during Covid") will headline the local docket on Thursday.