MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF 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, Curve Slightly Steeper, 10yr Tests 3.800%

AUSSIE BONDS
Bullet

ACGBs (YM +3.4 & XM +0.9) are richer today, although trade just off session's best level, while headlines have been almost non-existent will majority of Asia out today for public Holidays. 

  • Global rates look to have just continued with moves made in US tsys on Friday, while the weaker data out of China on Saturday, and talk from PBoC around further stimulus look to have helped local yields.
  • Equities have been mixed today, Australia's ASX200 is slightly higher as banks outperformed, while Hong Kong equities were the only outlet traders could sell in response to the poor China data, the HSI was down about 1% at its worst however have recovered majortiy of that weakness to trade just 0.20% lower.
  • Cash ACGBs are flat to 2.5bps richer with the 2yr is trading -2.6bps at 3.529%, the 10yr is now -0.2bps at 3.812% both made new cycle lows. The 2s10s is +2.40 at  27.810 while the AU-US 10-year yield differential dropped 2bps this morning to +15bps.
  • Swap rates are 1-3bps lower, with the curve is slightly steeper
  • The bills strip is cheaper, with pricing -0.5 to +1 across contracts.
  • RBA dated OIS is little changed today with 21bps of cuts now priced into year-end. While we have firmed through meeting next year with the Feb meeting is now pricing in 46.5, up 4bps.
  • Today, the calendar was empty, focus will now turn to Employment Data on Thursday
231 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 +3.4 & XM +0.9) are richer today, although trade just off session's best level, while headlines have been almost non-existent will majority of Asia out today for public Holidays. 

  • Global rates look to have just continued with moves made in US tsys on Friday, while the weaker data out of China on Saturday, and talk from PBoC around further stimulus look to have helped local yields.
  • Equities have been mixed today, Australia's ASX200 is slightly higher as banks outperformed, while Hong Kong equities were the only outlet traders could sell in response to the poor China data, the HSI was down about 1% at its worst however have recovered majortiy of that weakness to trade just 0.20% lower.
  • Cash ACGBs are flat to 2.5bps richer with the 2yr is trading -2.6bps at 3.529%, the 10yr is now -0.2bps at 3.812% both made new cycle lows. The 2s10s is +2.40 at  27.810 while the AU-US 10-year yield differential dropped 2bps this morning to +15bps.
  • Swap rates are 1-3bps lower, with the curve is slightly steeper
  • The bills strip is cheaper, with pricing -0.5 to +1 across contracts.
  • RBA dated OIS is little changed today with 21bps of cuts now priced into year-end. While we have firmed through meeting next year with the Feb meeting is now pricing in 46.5, up 4bps.
  • Today, the calendar was empty, focus will now turn to Employment Data on Thursday