MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

AUSSIE BONDS: ACGBS Richer, 10yr Yield Makes New Lows

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM +2.2 & XM +1.6) are slightly richer this morning with better buying through the belly of the curve. The 10yr yield has opened at new lows and trades at 3.838%

  • It is expected to be a very quiet Asian session today, with no major data releases.
  • Global equities continue their recovery after briefly dropping on Wednesday, after the yen made new highs. Locally, there are now major company reporting earnings today to drive local stocks, while in the corporate bond market NSW Ports is expected to close their 7yr & 10yr bond issuance with initial price guidance is 7yr at ASW +155-160bps area & 10yr at S/Q +175-180bps area.
  • Cash ACGBs are 0.5-2bps richer, with the AU-US 10-year yield differential dropped 5bps Thursday to +16bps.
  • Swap rates are 2-3bps lower, with the curve flatter.
  • The bills strip is cheaper, with pricing +1 to +2 across contracts.
  • RBA-dated OIS pricing is little changed into year in with a cumulative 16bps of easing is priced by December. Pricing has firmed 5bps for the Feb meeting to 40bps of cuts.
  • Today, the local calendar is empty.
179 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 +2.2 & XM +1.6) are slightly richer this morning with better buying through the belly of the curve. The 10yr yield has opened at new lows and trades at 3.838%

  • It is expected to be a very quiet Asian session today, with no major data releases.
  • Global equities continue their recovery after briefly dropping on Wednesday, after the yen made new highs. Locally, there are now major company reporting earnings today to drive local stocks, while in the corporate bond market NSW Ports is expected to close their 7yr & 10yr bond issuance with initial price guidance is 7yr at ASW +155-160bps area & 10yr at S/Q +175-180bps area.
  • Cash ACGBs are 0.5-2bps richer, with the AU-US 10-year yield differential dropped 5bps Thursday to +16bps.
  • Swap rates are 2-3bps lower, with the curve flatter.
  • The bills strip is cheaper, with pricing +1 to +2 across contracts.
  • RBA-dated OIS pricing is little changed into year in with a cumulative 16bps of easing is priced by December. Pricing has firmed 5bps for the Feb meeting to 40bps of cuts.
  • Today, the local calendar is empty.