MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ACGBs Slightly Richer,Curve Unchanged, NAB Business Surveys Monday

AUSSIE BONDS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

ACGBs (YM +1.0 & XM +1.5) are slightly richer today, there has been little in the way of headlines and another empty calendar today. US tsys futures are trading near session lows, after earlier looked to test overnight highs.

  • Cross-asset moves: US equity futures are slightly higher today, China property names and surged higher on news of further easing of buying restrictions, in the G10 currency space, AUD & NZD are the worst performers after being the top on Thursday, while Iron Ore is little changed at $116 a ton.
  • The ACGB curve is little changed today yields are about 2bps lower with the 2y10y is +0.100 at 29.50, while the AU-US 10-year yield differential is 2bps higher for the day now -13.5bps
  • Swap rates are 1-2bps lower in the front-end, and unchanged out past the 5yr.
  • The bills strip is slightly richer up 2bp
  • RBA-dated OIS implied rate is pricing 1-2bps lower into the November meeting, while the market is now pricing just 3bps of easing into year-end to a terminal rate of 4.32%
  • Today, the calendar is light. Looking ahead to next week we have NAB business surveys on Monday, Wage Price index on Wednesday and Employment Numbers on Thursday.
202 words

To read the full story

Close

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.

ACGBs (YM +1.0 & XM +1.5) are slightly richer today, there has been little in the way of headlines and another empty calendar today. US tsys futures are trading near session lows, after earlier looked to test overnight highs.

  • Cross-asset moves: US equity futures are slightly higher today, China property names and surged higher on news of further easing of buying restrictions, in the G10 currency space, AUD & NZD are the worst performers after being the top on Thursday, while Iron Ore is little changed at $116 a ton.
  • The ACGB curve is little changed today yields are about 2bps lower with the 2y10y is +0.100 at 29.50, while the AU-US 10-year yield differential is 2bps higher for the day now -13.5bps
  • Swap rates are 1-2bps lower in the front-end, and unchanged out past the 5yr.
  • The bills strip is slightly richer up 2bp
  • RBA-dated OIS implied rate is pricing 1-2bps lower into the November meeting, while the market is now pricing just 3bps of easing into year-end to a terminal rate of 4.32%
  • Today, the calendar is light. Looking ahead to next week we have NAB business surveys on Monday, Wage Price index on Wednesday and Employment Numbers on Thursday.