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AUSSIE BONDS: Cheaper But Subdued Dealings On A Data-Light Session

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM -1.2 & XM -1.0) are weaker on a data-light session.

  • (DJ) “Australian consumer confidence rose to an eight-week high last week in a sign that income-tax cuts in July and other government measures to help offset rising living costs might at last be beginning to lift some of the gloom that has hung over the economy this year.”
  • Cash US tsys are flat to 1bp cheaper, with a slight steepening bias, in today’s Asia-Pac session after yesterday’s modest rally.
  • Cash ACGBs are 1-2bps cheaper, with the AU-US 10-year yield differential at +20bps.
  • Swap rates are flat to 2bps higher, with the 3s10s curve flatter.
  • The bill strip has bear-steepened, with pricing flat to -4 across contracts.
  • RBA-dated OIS pricing is slightly mixed. A cumulative 20bps of easing is priced by year-end.
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ACGBs (YM -1.2 & XM -1.0) are weaker on a data-light session.

  • (DJ) “Australian consumer confidence rose to an eight-week high last week in a sign that income-tax cuts in July and other government measures to help offset rising living costs might at last be beginning to lift some of the gloom that has hung over the economy this year.”
  • Cash US tsys are flat to 1bp cheaper, with a slight steepening bias, in today’s Asia-Pac session after yesterday’s modest rally.
  • Cash ACGBs are 1-2bps cheaper, with the AU-US 10-year yield differential at +20bps.
  • Swap rates are flat to 2bps higher, with the 3s10s curve flatter.
  • The bill strip has bear-steepened, with pricing flat to -4 across contracts.
  • RBA-dated OIS pricing is slightly mixed. A cumulative 20bps of easing is priced by year-end.