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Tight Early On

AUSSIE BONDS

No reaction to a nominal uptick in the amount of ACGB issuance on offer next week, given the fact that an uptick of a cumulative A$500mn notional on offer across the two ACGB auctions will be more than digestible in DV01 terms (see earlier bullet for more detail on next week's AOFM issuance plans). Fairly sedate trade has been witnessed thus far in Sydney, with nothing in the way of notable macro headline flow observed. YM -3.0 & XM -1.0 as a result, with the longer end of the cash ACGB curve little changed, mimicking the broader theme witnessed in U.S. Tsys. EFPs sit a little over 1.0bp wider on the day at typing.

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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