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Jun'23 Calls

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Market Roundup: Push-Back on Soft Oct CPI

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AUSSIE BONDS
AUSSIE BONDS: YM & XM trade +1.0 & unch. respectively, after trickling lower on
SYCOM, alongside U.S. Tsys and in the wake of the findings of the Royal
Commission's investigation into the activity within the Australian banking
sector.
- YM/XM last trades at 50.5, with the cash equivalent at 49.3bp.
- Bills trade 1 to 2 ticks higher on the day. RBA repo ops saw A$673mn worth of
16-day ops dealt at 2.006%, while $2.185bn worth of 77-day reverse repo ops were
dealt at 2.053%.
- We have already see a soft AU AiG Services PMI print, as the index slipped
into contractionary territory, printing at 44.3 from 52.1.
- Today's focal point comes in the form of the RBA's first MonPol decision of
2019, due at 0300GMT/1400AEDT, with no change exp. (see our RBA preview
http://marketnews-m.objects.xtenit.com/MNIRBAFeb2019.pdf). It is worth noting
that traders are already looking to an address from RBA Gov. Lowe, due tomorrow,
and the release of the RBA's SoMP on Friday. Also worth highlighting that AU
retail sales & trade balance data will hit today.
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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