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Gilt/Bund spread breaks above the double top


Weekly Claims, Retail Sales, TIC Flows

AUSSIE BONDS: The space has continued to grind higher against the risk-off back
drop, with 3-Year futures last 1.0 tick higher at 97.940, while 10-Year futures
are a tick lower at 97.270.
- The domestic 3-/10-Year yield differential is 1.4bp steeper at 69.1bp, while
the AU/US 10-Year yield differential last trades at -9.9bp (-1.5bp).
- The short end is trading a little flatter ahead of tomorrow's RBA decision,
although the decision is seen as a bit of a non-event.
MNI London Bureau | +44 0203-865-3809 |