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Tight Early On

AUSSIE BONDS

A sedate start for Aussie bond futures, even with a light bid witnessed in the U.S. Tsy space. Participants are looking to ACGB supply dynamics and the daily NSW COVID case count. YM -0.5, XM -2.0, while cash ACGB trade has seen some steepening in the wake of overnight futures dealing, leaving long end paper ~2.5bp cheaper on the day. The previously outlined lift witnessed in IRZ1 has provided the highlight on the flow side thus far.

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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