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The futures curve has twist............>

AUSSIE BONDS
AUSSIE BONDS: The futures curve has twist flattened in Sydney hours with YM -1.0
and XM +5.0.
- The long end has drawn support from the broader risk-off dynamic, as well as
confirmation that the AOFM will not be conducting any more syndications until
the next FY.
- On the fiscal side it is worth flagging that the Australian Treasury has noted
administrative errors by businesses filling out applications forms for the
JobKeeper scheme, which has resulted in the Treasury slashing the estimated cost
of the scheme to A$70bn from A$130bn.
- Next week's AOFM issuance schedule is relatively in line with what we have
become accustomed to in recent times, with the addition of linker supply.
- Bills still lower on the day, 2-5 ticks softer through the reds.
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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