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Tight Sydney Trade

AUSSIE BONDS

YM unchanged, XM +2.5 as we head towards the Sydney close. There was a little bit of pre-auction auction concession for XM, before it became apparent that the pricing component of the ACGB Dec '30 auction was firm, with the weighted average yield printing 0.74bp through prevailing mids at the time of supply, although the cover ratio softened vs. the previous offering, even as the notional amount on offer moderated. The 7- to 12-Year sector of the ACGB curve has outperformed in cash trade.

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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