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Tsys/trade war matters drove the.......>

AUSSIE BONDS
AUSSIE BONDS: Tsys/trade war matters drove the space higher in SYCOM trade, with
the AU/U.S. 10-Year yield spread holding around the -60.0bp mark in early Sydney
trade. YM & XM hold very tight ranges in the early part of the Sydney morning,
YM +1.0, XM +4.0, as YM/XM runs 2.0 ticks flatter vs. settlement.
- Source highlights that EFPs have pushed wider, fuelled by some supply flow,
which saw steepening of the 3-/10-Year EFP box. Tuesday flow was a little more
mixed elsewhere, 2-way seen in the belly of the curve,
- Bills print unchanged to 2.0 ticks higher through the reds.
- Nothing to flag on the flow front in Sydney as of yet.
- Today's docket is headlined by A$400mn worth of ACGB 2.75% 21 April 2024
supply.
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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