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Early session ranges prevail for both YM & XM, with a modest uptick in the latest round of weekly consumer confidence data and softer than expected NZ retail sales data from across the Tasman failing to provide any meaningful impetus for the space. That leaves YM -1.0 and XM +0.5 at typing, with overnight lows for both contracts remaining intact. Wider cash ACGB trade sees the longer end of the curve outperform, with 30s richening by ~1.5bp on the session. EFPs are a touch wider on the day, with the 3-/10-Year box flattening. The IR strip runs -2bp to +2bp through the reds.

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Early session ranges prevail for both YM & XM, with a modest uptick in the latest round of weekly consumer confidence data and softer than expected NZ retail sales data from across the Tasman failing to provide any meaningful impetus for the space. That leaves YM -1.0 and XM +0.5 at typing, with overnight lows for both contracts remaining intact. Wider cash ACGB trade sees the longer end of the curve outperform, with 30s richening by ~1.5bp on the session. EFPs are a touch wider on the day, with the 3-/10-Year box flattening. The IR strip runs -2bp to +2bp through the reds.