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AUSSIE BONDS
The ACGB Apr '24/Nov '24 yield spread has flattened by 3.3bp today and sits the best of 6bp shy of its intraday steeps. The softer than expected Q1 CPI reading has been the driving factor here. A reminder that this spread is often used to gauge market pricing of the chances of the RBA extending its 3-Year yield targeting measure to ACGB Nov '24 from ACGB Apr '24.
Fig. 1: ACGB Apr '24/Nov '24 Yield Spread (%)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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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