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Effective Fed Funds Rate


Europe keeps US underpinned


Is back to session high


BLOCK, 2Y Sale


FTSE long dated option

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AUSSIE BONDS: The curve is running a little steeper as 10-Year paper
underperforms, the AU 3-/10-Year cash spread is back above 60bp, while the
pressure in futures may have come about on the back of the AU/U.S. 10-Year yield
spread moving to levels not seen since late September, last ~-36.0bp.
- Bills trade on low volume, with the whites and reds unchanged to 2 ticks
- As a reminder, the RBA meeting minutes saw little in the way of fresh
information, with focus now on a speech from RBA Gov. Lowe later today.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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