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Ticking Lower

AUSSIE BONDS

The downtick in U.S. Tsys and some trans-Tasman impetus as heavy offers showed up in the latest round of RBNZ LSAP operations (ahead of today's announcement re: next week's LSAP purchase target) seems to be weighing on the space, with the potential for some modest ACGB supply-related concession also sprinkled in. These factors are combining to outweigh the supportive month-end index extension matters that we have outlined previously. YM -1.0, XM -4.0.

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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