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Westpac write "we expect AU bonds to...>

AUSSIE BONDS
AUSSIE BONDS: Westpac write "we expect AU bonds to consolidate current levels
rather than extend last week's rally. UST price action will again be the key.
There are no bond tenders this week ahead of Fridays futures expiry. That should
be supportive along with the maturity of the ACGB March 2019, worth around
$13bn. The associated reinvestment flows should be supportive. The 3-10yr
futures spread flattening trend powered along, despite the re-pricing of RBA
easing expectations. That indicates that the curve is vulnerable to long end
direction and global machinations more so than domestic considerations."
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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