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WPI Day

AUSSIE BONDS

The wider global core FI market impetus allowed the futures curve to bear flatten in overnight dealing. YM is now -8.0, looking through its overnight trough, while XM is -7.0, in line with its overnight base.

  • The IR strip runs 5-12bp cheaper through the reds, with the back end of the whites and front end of the reds leading the weakness.
  • WPI data headlines the local docket on Wednesday, with plenty of discussion evident re: the ability of the print to tip the RBA’s hand when it comes to the level of tightening that it will deploy at the June meeting. Elsewhere, we will get the latest Westpac leading index print & A$800mn of ACGB Nov-32 supply.
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The wider global core FI market impetus allowed the futures curve to bear flatten in overnight dealing. YM is now -8.0, looking through its overnight trough, while XM is -7.0, in line with its overnight base.

  • The IR strip runs 5-12bp cheaper through the reds, with the back end of the whites and front end of the reds leading the weakness.
  • WPI data headlines the local docket on Wednesday, with plenty of discussion evident re: the ability of the print to tip the RBA’s hand when it comes to the level of tightening that it will deploy at the June meeting. Elsewhere, we will get the latest Westpac leading index print & A$800mn of ACGB Nov-32 supply.