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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUS$ Credit Supply Pipeline
US Treasury Auction Calendar
3- & 10-Year futures trade 2 ticks.....>
AUSSIE BONDS: 3- & 10-Year futures trade 2 ticks back from lows, after softening
as U.S. stock index futures moved higher earlier on. The space had little
reaction to comments from RBA Gov. Lowe, made during SYCOM hours, as he noted
that the RBA is "starting to get concerned about credit supply." While he also
suggested that unemployment may go to 4.5% without generating wage pressure.
It's currently 5.0% & the RBA is projecting 4.75% during '20. This came after
the initial speech, which saw Lowe state that "the Board does not see a strong
case for a near-term change in interest rates. There is a reasonable probability
that the current setting of monetary policy will be maintained for a while yet."
- The 3-/10-Year cash yield differential has held above 60bp, with AU paper's
recent underperformance vs. Tsys also holding, AU/U.S. 10-Year yield spread at
~-37.5bp, little changed as we approach the close, after AU paper underperformed
early on. Bills trade 1 tick higher to 1 tick lower through the whites and reds.
3-Month BBSW set unch. today.
- A softish non-basket bond auction added some modest pressure to the space in
early dealing.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.