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Tight Ahead Of RBA

AUSSIE BONDS

The ACGB space is seemingly following the broader ebb & flow of risk appetite, with futures sticking to the ranges established in early Sydney dealing. That leaves YM -2.0 and XM -2.5. Longer dated cash ACGBS are a touch weaker, running 3.0-3.5bp cheaper as of typing. EFPs have narrowed a little. Backward looking (Q3), in line with exp. house price data did little for the space. Bills run flat to 3 ticks higher through the reds, flattening a touch vs. Monday’s settlement. A reminder that the RBA decision headlines the local docket today, with nothing in the way of policy tweaks expected, although the omicron outbreak may result in a slightly more cautious tone in the post-meeting statement.

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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