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The bid in Tsys dragged Aussie bonds...>

AUSSIE BONDS
AUSSIE BONDS: The bid in Tsys dragged Aussie bonds towards more neutral levels
after a limited re-open in the wake of the sell off on SYCOM.
- Elsewhere, local job vacancy data didn't help the view re: the domestic labour
market, while comments made across the Tasman by RBNZ Gov. Orr were ignored by
the space.
- YM last -0.5. XM -3.0, which leaves YM/XM at 28.5 and the cash equivalent at
25.0bp.
- Bills are virtually unchanged through the reds.
- Focus tomorrow will fall on the AOFM's weekly issuance, with participants
already looking ahead to next week's RBA MonPol decision.
- Just to flag (as we have previously) that WATC could price its new A$ Oct 2034
line at some point today. Could be limited in size, if so don't expect much in
the way of impact via hedging flows. IPT was futures +94-98bp.
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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