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The space has ticked higher............>

AUSSIE BONDS
AUSSIE BONDS: The space has ticked higher alongside JGB's & JPY demand, with
3-Year futures last trading at 97.895 (+0.5 tick) & 10-Year futures at 97.295
(+2.0 ticks).
- A 10-Year bond basket constituent was well received at auction today which
would have also helped demand for the space.
- The domestic 3-/10-Year yield differential last sits at 66.7bp (-0.7bp) while
the AU/US 10-Year yield spread last sits at -14.1 bp (-4.0bp).
- 3-Month BBSW fixed 0.5bp higher today, after 3-Month US LIBOR fixed over 3.0bp
higher. The white and red Bill contracts trade 1-2 ticks higher on the day, as
today's fix lagged those seen earlier this week.
- From a technical perspective 10-Year futures are currently hesitating around
the 200-DMA with the 55-WMA and Bollinger top lurking above. Bulls continue to
look for a close above the 55-WMA to initially target 97.3850 and then 97.5200
Nov/Dec highs. Daily studies are well placed for gains. Bears now need a close
below 97.2350 to ease bullish pressure and below 97.1750 to confirm a break of
the 55-DMA and bull channel base targeting 97.0450 2018 lows.
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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