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CHINA RATES

China Repo Rates Rise on Tuesday

US TSYS

ACGBs & Regional Demand Helping

AUSSIE
AUSSIE: The Aussie dollar has failed to receive a boost from the release of the
RBA's July minutes, and remains firmly locked in an ongoing downtrend, currently
trading at 0.7412.
- Bonds have seen a slight rise in yields, particularly at the short end of the
curve, likely in response to the statement that the next move in the cash rate
would be an increase rather than a decrease. 
- The broad weakening trend in AUDUSD is in line with the wide gap between the
currency pair and real bond yield spreads between the two countries, which
continues to suggest the AUD is still ~10% overvalued.