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A Little Firmer Vs. Thursday’s Closing Levels

AUSSIE BONDS

Aussie bond futures operate around late overnight levels after correcting from post-Sydney cheaps as the space drew on the impulse from U.S. Tsys, leaving YM +4.0 & XM +2.0, while wider cash ACGB trade sees 1-4bp of richening, as the curve bull steepens.

  • Bills run 1-5bp richer through the reds, with terminal RBA cash rate pricing a little softer, back in to ~4.10% on the RBA dated OIS curve (likely aided by the spill over from the dovish undertones surrounding Thursday’s 75bp hike from the BoE).
  • Today’s local docket includes the formal release of the RBA’s SoMP, albeit with the major economic projections already pre-released via the Bank’s post-meeting statement on Tuesday, as is the norm. Elsewhere, the weekly AOFM issuance slate (which is set to be headlined by the syndication of the new ACGB-May 34) and Q3 real retail sales data will cross.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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