ACGBs (YM -5.0 & XM -6.0) are sharply weaker in line with movements in cash US tsys in today’s Asia-Pac session. Cash US tsys are currently 8-10bps cheaper, with a steepening bias. 

• US election results continue to trickle in showing Trump ahead in the electoral votes, although it is still early days on this front. The Decision Desk HQ has Turmp election odds just above 72% at the time of writing.
• Cash ACGBs are 5-6bps cheaper with the AU-US 10-year yield differential at +27bps.
• Swap rates are 6-7bps higher.
• The bills strip has sharply bear-steepened, with pricing -1 to -11.
• RBA-dated OIS pricing is 2-10bps firmer across meetings. No easing is priced by year-end.
• Today, the local calendar is empty.