Free Trial

AU Bonds have stabilised after they....>

AUSSIE BONDS
AUSSIE BONDS: AU Bonds have stabilised after they eased in early dealing this
week, in sympathy with U.S. Tsys after following their U.S. counterparts lower
on SYCOM on Friday. It is worth noting that NAB will not be following Westpac,
CBA & ANZ, and as such will keep its variable mortgage rate on hold, which added
some additional pressure to rates early on, before a solid enough auction of
Nov' 2022 paper steadied the ship.
- The long end has ticked away from lows, leaving the domestic 3-/10-Year yield
differential at ~57.5bp, slightly steeper on the day, with the AU/U.S. 10-Year
spread last ~-35.5bp.
- The bill strip last trades 1-3 ticks softer, in sympathy with Bonds. 3-Month
BBSW fixed 0.11bp higher today.
- The AU labour market report and NAB business survey present the major focal
points on the AU docket this week, with RBA's Bullock set to speak later today.
Bullock's speech is titled "the evolution of household sector risks," a key area
of focus for the RBA.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.