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The space has backed away from the.....>

AUSSIE BONDS
AUSSIE BONDS: The space has backed away from the late SYCOM highs on the
watering down of Chinese junior ministers choosing not to visit U.S. farmlands
on Friday, as well as the generally positive tone of the official statements re:
the latest trade meetings. Whether or not these hopes will prove to be
well-founded is another matter. Elsewhere, geopolitical worry is providing some
support to global FI. YM unch., XM +1.0, leaving YM/XM at 29.5 and the cash
equivalent at 26.5bp. Bills -1 tick to +2 ticks through the reds.
- The latest round of flash CBA PMIs saw the m'fing sector move into
contractionary territory, while the services sector managed to expand, allowing
the composite reading to move back into expansionary territory. On the labour
market, CBA noted that "companies showed a reluctance to take on additional
staff."
- A$500mn worth of ACGB 2.75% 21 Nov 2029 supply is due later today.
- As a reminder, RBA Gov. Lowe is set to speak tomorrow, with the address coming
in the wake of a "dovish" set of meeting minutes & an uptick in the unemployment
rate. This has left IBs pricing an ~80% chance of a cut from the RBA next week.
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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