Free Trial

APAC Credit Mixed, NAB Prices 15NC10 Tier 2 At +200

CREDIT UPDATE
  • It was a slow session in Global rates today, US tsys futures edged slightly higher, ACBG curve flatter, yields are 0.5-1.5bps lower, NZGB curve is little changed, yields are about 3bps higher, while JGB curve is slightly steeper, yields are flat to 2bps higher with the 10Y now 1.031%.
  • Regional Asian equities are mixed today, ranges have been very tight and markets wait for UK & US markets for direction
  • Aus Corps 2-3bps tighter & Fins unch. China Credit is 1-3bps wider, Fins & Industrials are underperforming while SOE are 1-2bps tighter.
  • Aus iTraxx CDS unchanged at 63bps & Asia Ex-J iTraxx is down 1bp at 91.50bps
  • Data: NZ Filled Jobs for April were 0.1% vs 0.3% revised in March, AU Retail Sales were 0.1% vs 0.2% est, Japan PPI Services were 2.8% y/y up from a revised 2.4% in March vs 2.3% est.
  • Primary Deals: NAB announced a A$ 15NC10 T2 priced at ASW +200bps, while Auckland Airport 7.5Y priced at ASW+122bps

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.