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The Coronavirus has triggered..........>

AUSSIE BONDS
AUSSIE BONDS: The Coronavirus has triggered various supportive measures from
Chinese policymakers ahead of today's onshore market re-open (see earlier
bullet), prompting a bid for Aussie bonds in early Sydney trade, with bond
futures extending on their Coronavirus-worry induced SYCOM gains.
- YM +6.0, XM +6.5, with 3-Year yields tagging an all time low in early trade
today.
- On the semi-issuance front, SAFA have announced that they will issue up to
A$1bn worth of a new May 2032 line via placement in February.
- Bills sit 3-5 ticks higher through the reds.
- Dwelling approvals provide some local interest during the remainder of today's
session, with CoreLogic house prices & Melbourne Institute inflation
expectations also due. We have seen a soft domestic AiG m'fing PMI (45.4 vs.
48.3 prior) & an uptick in the final CBA m'fing PMI vs. flash (49.6 vs. flash
49.1) in early Sydney hours.
- China matters will likely dominate local developments.
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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