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YM -0.5, XM +0.5, with the latter......>

AUSSIE BONDS
AUSSIE BONDS: YM -0.5, XM +0.5, with the latter ticking back to the middle of
its overnight range in early Sydney trade, with U.S. e-minis on the front foot,
unwinding the overnight flattening.
- RBA's Harper called upon Australia's gov't to produce a "tapering agreement"
for stimulus programs due to expire in September, as a sudden cut off of support
might frustrate the economic recovery and push unemployment higher. On the AUD,
Harper noted that "it would certainly be unhelpful if the rate (AUD/USD) was
back up over 70 cents, that's for sure...It might've been nicer if it was weaker
for a little longer."
- Elsewhere, we have seen PM Morrison detail a deepening state-led cyber-attack
against Australia, although he refrained from naming and shaming any potential
culprits. This statement came after Morrison & UK PM Johnson agreed on the need
for an independent WHO investigation re: the origins of COVID-19 on Thursday.
- Local focus Friday will fall on flash retail sales data, A$2.0bn worth of ACGB
3.25% 21 Apr 2025 supply and the release of the AOFM's weekly issuance schedule.
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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