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Tight Trade, Semi Issuance Eyed

AUSSIE BONDS

A very sedate round of Sydney trade, with a lack of meaningful headline flow evident thus far. Participants are already looking ahead to tomorrow’s domestic labour market report as a result.

  • YM last deals -2.0 & XM is -1.0. EFPs are a touch wider, with the 3-/10-Year EFP box steepening. Bills sit 3-4bp cheaper across the curve.
  • On the semi issuance front, SAFA has launched a tap of its May-30 Select line (up to A$750mn), which is set to price today. Hedging flows in XM futures may weigh around pricing.
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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