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U.S. Tsy Downtick Tempers Bid, RBA SLF Usage Moves Higher Again

AUSSIE BONDS

The early uptick stemming from the spill over from Friday’s U.S. Tsy rally & local political matters has been tempered by the cheapening in the U.S. Tsy space, leaving YM & XM +2.5 & +1.5 respectively.

  • ACGB borrowing via the RBA’s SLF has continued to nudge higher, topping A$11.0bn on Friday, with borrowing concentrated in the ACGB Apr ’24-Apr ’26 zone (which accounted for a cumulative ~A$10.9bn of the borrowing).
  • Note that local private sector credit data for December was a touch firmer than expected, but this didn’t provide anything in the way of notable market reaction.
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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