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Twist Flattening Maintained, Futures Off Lows

AUSSIE BONDS

Much the same as U.S. Tsys, ACGBs have consolidated off of worst levels with the wider bear flattening of the curve remaining intact, as the major ACGBs benchmarks run 7bp cheaper to 1bp richer, pivoting around 20s.

  • Domestic headline flow has been light, leaving the space more susceptible to swings in the global core global FI space.
  • YM & XM deal off of worst levels, -8.5 & -2.0, respectively.
  • The 3-/10-Year EFP Box is still comfortably wider on the day, roughly in line with levels that we flagged earlier.
  • Bills sit 7-18bp cheaper through the reds.
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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