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Weaker In The Wake Of GDP

AUSSIE BONDS

Aussie bonds soften post-GDP, with YM now -2.0 and XM unchanged on the day after the stronger than expected GDP print topped both market and RBA expectations (the Bank had projected a 2.0% Y/Y fall in GDP during Q4). No doubt that the market will be keen to retest the RBA's reaction function re: bond yields if the chance presents itself, although the market continues to operate some way off of last week's cheapest levels.

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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