ACGBs Steady In Early Trades, Current Account Balance Shortly

ACGBs (YM -0.1 & XM -0.0) are slightly cheaper, there has been little in the way of local drivers with global FI weaker overnight following some data and supply to come in Europe, the US was out although cash trading will kick back off shortly.

• Australian inflation expectations fell by 0.2 percentage points to 4.6% last week, while consumer confidence slightly improved, rising by 0.5 points to 83.1 points, according to ANZ Roy Morgan.
• Australian house prices rose 0.5% in August, marking the 19th consecutive month of increases, though the pace of growth is slowing. While Perth, Adelaide, and Brisbane saw the highest monthly gains Canberra, Melbourne, and Darwin experienced declines.
• Cash ACGBs curve is little changed this morning, yields are flat to 1bps higher. The 2yr is +0.3bps at 3.726%, while the 10yr is +0.3bps at 4.01%
• Swaps are about 1-2bps higher across the curve.
• The bills strip is little changed
• RBA-dated OIS pricing is little changed heading into year-end, there has been some softening at next years meeting, with April to August meetings softening 3-13bps since Friday.
• Later today we have BoP Current Account Balance at 1130 AEST / 930 HKT