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The space operates in familiar.........>

AUSSIE BONDS
AUSSIE BONDS: The space operates in familiar territory following an Asia-Pacific
session that was bereft of any any notable news flow, leaving fixed income
struggling to find any real trading impetus.
- 3-Year Bond futures last trade at 97.820 (unch.) while 10-Year Bond futures
trade at 97.315 (+1.0 tick).
- The domestic 3-/10-Year yield differential last sits 1.0bp flatter at 50.5bp,
while the AU/US 10-Year yield spread is 0.8bp tighter at -10.9bp.
- 3-Month BBSW fixed 1bp higher today with the white & red Bill contracts last
trading unch. - 3 ticks lower, as the fix pressured the front end of the strip.
- Of note, Western Australia launched new A$ denominated '28 paper, while
Westpac priced 4-Year paper & Caltex priced 7-Year paper.
- The space shrugged off the release of the latest round of housing finance data
& Melbourne institute inflation expectations.
- From a technical perspective the pressure on 10-Year futures continues to
return to the key DMAs with the contract flirting with 100- (97.2856) & 200-
(97.2872) DMAs. Overall the 97.1750 support remains key.
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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