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Supported By The Broader Backdrop

AUSSIE BONDS

Aussie bonds drew some light support from the broader backdrop, allowing futures to add to the overnight uptick, YM +1.5, XM +5.5, with nothing in the way of impact from another solid round of ACGB supply, nor from local data (which came in the form of slightly firmer than expected preliminary retail sales data for the month of March).

  • In terms of auction specifics, $1.2bn of ACGB 2.50% 21 May 2030 supply saw the weighted average yield print 0.33bp through prevailing mids at the time of supply (per Yieldbroker pricing), with a decent enough cover ratio witnessed as well documented themes continue to support ACGB demand.
  • There is little of note on the local docket on Thursday, outside of the scheduled round of ACGB purchases from the RBA.
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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