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The space has slowly ticked away.......>

AUSSIE BONDS
AUSSIE BONDS: The space has slowly ticked away from the SYCOM highs, perhaps
aided by an uptick in mainland China stocks, as the CSI 300 added 1.0%, and
comments out of the White House made late Wednesday, which noted that China &
U.S. have had talks re: trade, with the U.S. open to further talks if China
address its longstanding concerns.
- The domestic 3-/10-Year yield differential continues to oscillate around 55bp,
while the AU/US 10-Year yield differential sticks to the low -20bp region.
- Bill strip activity has been light thus far, with the white and red contracts
virtually unchanged on the session. 3-Month BBSW fixed some 2.2bp lower today at
~2.02%, although AUD cross currency basis swaps remain elevated.
- Focus remains on the issuance of the new 21 May 2041 Bond due next week, and
dynamics in the funding space.
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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