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CHINA

VIEW: Stan Chart: Policy Headwinds Abating

AUSSIE BONDS

Futures Test Highs

CNH

Marginally Softer

US DATA

PREVIEW: Primary Dealer NFP Estimates

FOREX

RBC Trades For 2022

AUSSIE BONDS
AUSSIE BONDS: The bull flattening theme has extended in early Sydney trading
after the previously discussed sources of worry supported XM in the latter part
of SYCOM trade, with the contract now showing through Wednesday's highs. YM
+0.5, XM +4.0.
- Singtel Optus has just printed a chunky A$850mn across 5- & 10-Year lines,
which comes after NHFIC priced up A$562M worth of 2032 social bonds on
Wednesday.
- Bills sit unchanged to +2, with surplus ES balances lodged at the RBA now
sitting around the A$38.0bn marker, still well elevated in historical terms, but
somewhat shy of the A$89.0bn seen back in early April. Still, liquidity in the
system is flush, with little in the way of tangible upward pressure evident in
short rates.
- Job vacancies data and Note supply headline locally today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com