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The continued deepening of.............>

AUSSIE BONDS
AUSSIE BONDS: The continued deepening of coronavirus angst, which resulted in a
heavy session for U.S. equity markets, put a bid in during SYCOM trade, but
neither of the major futures contracts managed to test their recent highs,
before easing off in early Sydney trade after a late fade from highs in U.S.
Tsys. 10s underperformed further vs U.S. Tsys, with that spread at ~-45.0bp as I
type.
- YM +2.0 and XM +2.5 at typing.
- Bills sit 1-2 ticks higher through the reds.
- Source notes that flows in the short-end have started to see a little more
outright receiving interest in RBA meeting dates, alongside the usual OIS
flattening trades.
- Completed construction work gets the GDP inputs underway today, while we will
also see A$800mn worth of ACGB 1.50% 21 June 2031 supply.
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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