MNI China Press Digest Jan 6: PBOC Bills, Yuan, Capital Market

MNI: China CFETS Yuan Index Up 0.62% In Week of Jan 3

MNI: PBOC Net Drains CNY75.0 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1876 Mon; -2.27% Y/Y

MNI China Daily Summary: Friday, January 3

MNI China Press Digest Jan 3:RRR Cut Mooted, Yuan, Consumption

US EIA:NAT GAS STORAGE -116 BCF TO 3,413 BCF JAN 03 WK

MNI: US ISM DEC MANUF PURCHASING MANAGERS INDEX 49.3

MNI: UK NOV M4 MONEY SUPPLY +0% M/M, +2.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BONDS: ACGBs Trade Cheaper, Curve Bear-Steepens

BONDS
BulletMarketsFixed Income Bullets
  • Aussie bonds are trading cheaper this morning, slightly underperforming moves made in US tsys, the ACGB curve has bear-steepened. Later this morning we have private sector credit, however this is unlikely to move markets.
  • The move higher in yields comes after concerns grow over US debt supply and stick inflation, with Q3 US GDP growth unexpectedly revised up in the third and final reading, to 3.1% Q/Q annualized from 2.8% prior, and an acceleration from 3.0% prior - representing the best quarterly growth since Q4 2023
  • Cash ACGBs are currently trading 1bps to 7bps cheaper, with the curve bear-steepening. The 2yr is +1.4bps at 3.988%, while the 10yr is +6bps at 4.468%. Bonds Futures are lower today, with YM -0.4 & XM at -0.6
  • RBA dated OIS has firmed this week with the market now fully pricing in a full cut in April, while there is 72bps of cumlative cuts priced through to December 2025
  • The 2s10s curve continues to steepen after hitting a recent low of 33bps, we last trade at 46.5bps
  • The AU-US 10yr spread is -10bps, up 1.5bps.
  • Swap curves are little changed this morning, while the bill strip is flat to -1
  • Today we have Private Sector Credit at 11:30 AEST
198 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.
  • Aussie bonds are trading cheaper this morning, slightly underperforming moves made in US tsys, the ACGB curve has bear-steepened. Later this morning we have private sector credit, however this is unlikely to move markets.
  • The move higher in yields comes after concerns grow over US debt supply and stick inflation, with Q3 US GDP growth unexpectedly revised up in the third and final reading, to 3.1% Q/Q annualized from 2.8% prior, and an acceleration from 3.0% prior - representing the best quarterly growth since Q4 2023
  • Cash ACGBs are currently trading 1bps to 7bps cheaper, with the curve bear-steepening. The 2yr is +1.4bps at 3.988%, while the 10yr is +6bps at 4.468%. Bonds Futures are lower today, with YM -0.4 & XM at -0.6
  • RBA dated OIS has firmed this week with the market now fully pricing in a full cut in April, while there is 72bps of cumlative cuts priced through to December 2025
  • The 2s10s curve continues to steepen after hitting a recent low of 33bps, we last trade at 46.5bps
  • The AU-US 10yr spread is -10bps, up 1.5bps.
  • Swap curves are little changed this morning, while the bill strip is flat to -1
  • Today we have Private Sector Credit at 11:30 AEST