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ACGBs Richer Ahead Of 2029 Bond Auction & Private Sector Credit

AUSSIE BONDS
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ACGBs (YM +3.0 & XM +2.0) are richer in early morning trading the moves follow global rates after US treasuries traded off lows on the back of higher than expected jobless claims triggered a rebound.

  • US tsys rebounded after selling off on the back of heavy issuances over the prior few days, and were also supported by US data, while later today we have personal spending PCE and MNI Chicago PMI.
  • Cash ACGBs are 1-4bps lower, the curve has steepened with the AU-US 10-year yield differential up 2bps to -14bps.
  • Swap rates are 1-3bps higher, curve flatter
  • The bills strip has steepened, with pricing 1-3bps higher
  • RBA-dated OIS pricing is 2-5bps softer at the Sept & Nov meetings this morning.
  • The local calendar today will see Private Sector Credit and the 2029 Bond Auction
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ACGBs (YM +3.0 & XM +2.0) are richer in early morning trading the moves follow global rates after US treasuries traded off lows on the back of higher than expected jobless claims triggered a rebound.

  • US tsys rebounded after selling off on the back of heavy issuances over the prior few days, and were also supported by US data, while later today we have personal spending PCE and MNI Chicago PMI.
  • Cash ACGBs are 1-4bps lower, the curve has steepened with the AU-US 10-year yield differential up 2bps to -14bps.
  • Swap rates are 1-3bps higher, curve flatter
  • The bills strip has steepened, with pricing 1-3bps higher
  • RBA-dated OIS pricing is 2-5bps softer at the Sept & Nov meetings this morning.
  • The local calendar today will see Private Sector Credit and the 2029 Bond Auction