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Under Pressure Ahead Of Labour Market Report, Liquidity Thins Out

AUSSIE BONDS

Futures softened overnight on dynamics in the U.S. Tsy space, which stemmed from firmer than expected U.S. CPI data and a huge tail on the latest round of 30-Year Tsy supply, with the moves extending in early Sydney dealing. YM -16.5 at typing, while XM prints -11.0. The former has held onto its move through overnight lows, while the latter has been a little more hesitant when it comes to extending, allowing some bear flattening to develop on the curve.

  • Bills run 1-19bp cheaper through the reds.
  • Markets are particularly thin in the wake of the overnight moves and ahead of the monthly labour market report out of Australia, which will cross later today. Elsewhere, we will get the latest round of scheduled ACGB purchases from the RBA.
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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