RBA-dated OIS is sitting flat to 3bps firmer across meetings after today’s domestic data drop.

• Australia's June employment increased by 50,176 month-over-month, exceeding the estimated 20,000.
• The June jobless rate remained steady at 4.1%, matching expectations.
• Full-time employment rose by 43,327, while part-time employment increased by 6,849. The participation rate in June was 66.9%, slightly above the estimated 66.8%.
• Terminal rate expectations have jumped to 4.43% from 4.39% before the data. For reference, the expected terminal rate saw a peak of 4.52% in late June.

Figure 1: RBA-Dated OIS – Today Vs. Yesterday

Source: MNI – Market News / Bloomberg