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The space eased from the SYCOM.........>

AUSSIE BONDS
AUSSIE BONDS: The space eased from the SYCOM levels in early dealing alongside
US Tsys as desks settled back down to business following the elongated US
holiday weekend, with US Tsy yields moving away from their opening lows early
on. Aussie Bonds then tracked the Tsy complex higher, supported by broader risk
off flows, although there was no particular headline/fundamental catalyst to
spark the move, settling into a tight range thereafter.
- 3-Year Bond futures last trade at 97.835 (+1.5 ticks), while 10-Year Bond
futures trade at 97.280 (+4.0 ticks). The domestic 3-/10-Year yield differential
trades some 2.5bp tighter at 58.0bp, while the AU/US 10-Year spread trades 1.3bp
wider at -19.2bp.
- The front end of the Bill strip is softer with IRM8 & IRU8 3 ticks lower on
the day. The remainder of the white & red contracts trade 1 tick lower to 2
ticks higher.
- The AOFM noted that "the three and 10-year futures baskets are where we tend
to see most demand, but we will also be looking to support the 20-year futures
basket" as they outlined their rough nominal issuance plan.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MarketsFixed Income Bullets

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