Tracking The Broader Beat

There has been little in the way of idiosyncrasies to drive Aussie bonds thus far, with the early U.S. Tsy-driven bid fading, before fresh selling pressure came in on the back of the confirmation of a Blinken-Lavrov meeting next week. The major futures contracts still operate a little above overnight lows, but are into negative territory on the session, with YM -1.0 and XM -2.5.

• Looking at next week’s AOFM issuance slate, the Agency chose to maintain 3 rounds of regular ACGB supply, albeit with A$500mn less on offer vs. this week (along with a slight extension in terms of the average maturity of the bonds on offer). That shortfall is being covered by an uptick in notes issuance.