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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
ACGB May-32 Auction Passes Smoothly
The latest round of ACGB May-32 supply passed without hiccups, with the weighted average yield printing 0.93bp through prevailing mids (per Yieldbroker), while the cover ratio improved to 2.82x from the previous auction’s 2.48x.
- The move in ACGBs away from cycle cheaps and expectations for a slower pace of RBA tightening (after the bank’s monetary policy decision on Tuesday) was likely sufficient to generate a baseline level of demand.
- On the other hand, the lack of relative value (as flagged in our preview) may have capped cover at today’s auction, with ongoing market volatility and the proximity to the RBNZ’s monetary policy decision providing headwinds to demand as well.
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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.