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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.
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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.