Free Trial

3-Year futures last trade at 97.910....>

AUSSIE BONDS
AUSSIE BONDS: 3-Year futures last trade at 97.910 (-2.5 ticks) while 10-Year
futures last trade at 97.225 (-3.0 ticks), with both contracts off of the SYCOM
lows. Yields for the respective cash eqivalents last sit at 2.069% (+2.7bp) and
2.784% (+2.7bp).
- The AU/US 10-Year spread remains well entrecnhed in negative territory, last
at -11.1bp. 
- The November 2022 bond auction was well received as the cover ratio moved
higher and the number of bidders increased substantially to 55 from 32. This
indicates that investors are not averse to holding Australian paper, even with
the AU/US 10-Year spread operating in negative territory.
- The white bill contracts are 2 ticks lower, excl. IRH8 which is unchanged on
the day. The notable flow in the space during SFE hours saw 2.2K IRH8M8 given at
2 over 2 clips.
- As a reminder NAB now look for 1 RBA hike this year (prev 2.).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.