© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
BUND TECHS

(U2) Corrective Bull Cycle Extends

FOREX

USD Off Smalls, A$ Underperforms

IDR

USD/IDR Staying Close To 15000

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

A Touch Firmer & Flatter, Back From Extremes

AUSSIE BONDS
BulletMarketsFixed IncomeBond Market News

Aussie bonds continue to trade to the beat of the wider macro drum, with a lack of idiosyncratic drivers evident once again on Thursday.

  • In his latest pre-election address, Australian PM Morrison noted that sizeable pay growth may fan the inflationary flames further, despite various unions and business bodies calling for such a move in recent days (Morrison’s ruling coalition still trails Labor in the polls ahead of the May 21 election).
  • The previously outlined COVID case-related headlines surrounding China, and to a lesser extent, North Korea, in addition to the Sunac bond payment worries, allowed futures to move to best levels of the session during the Sydney morning, before the move pared back a little as wider risk appetite recovered a little.
  • A very modest moderation in domestic consumer inflation expectations (to a still lofty +5.0% in Y/Y trimmed mean terms) had no impact on the space.
  • YM is dealing +4.0, with XM +5.5, which much of the overnight/early Sydney flattening unwound.
  • 10+-Year cash ACGB trade has seen a fairly parallel 5.5-6.5bp of richening.
  • A$1.0bn of ACGB May-32 supply, the release of the weekly AOFM issuance slate and panel participation by RBA Deputy Governor Bullock at the Regulators 2022 (FINSIA) headline the local docket on Friday.
207 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Aussie bonds continue to trade to the beat of the wider macro drum, with a lack of idiosyncratic drivers evident once again on Thursday.

  • In his latest pre-election address, Australian PM Morrison noted that sizeable pay growth may fan the inflationary flames further, despite various unions and business bodies calling for such a move in recent days (Morrison’s ruling coalition still trails Labor in the polls ahead of the May 21 election).
  • The previously outlined COVID case-related headlines surrounding China, and to a lesser extent, North Korea, in addition to the Sunac bond payment worries, allowed futures to move to best levels of the session during the Sydney morning, before the move pared back a little as wider risk appetite recovered a little.
  • A very modest moderation in domestic consumer inflation expectations (to a still lofty +5.0% in Y/Y trimmed mean terms) had no impact on the space.
  • YM is dealing +4.0, with XM +5.5, which much of the overnight/early Sydney flattening unwound.
  • 10+-Year cash ACGB trade has seen a fairly parallel 5.5-6.5bp of richening.
  • A$1.0bn of ACGB May-32 supply, the release of the weekly AOFM issuance slate and panel participation by RBA Deputy Governor Bullock at the Regulators 2022 (FINSIA) headline the local docket on Friday.