MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

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: Cheaper, IMF Warns, Focus On US Claims Data

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM -6.0 & XM -7.0) are cheaper after dealing in narrow ranges in today’s data-light Sydney session.

  • Outside of the previously outlined trade balance and Judo bank PMIs, the market’s focus was likely on the IMF’s warning that the government and the RBA need to work together to bring down inflation.
  • Cash US tsys are 1-2bps cheaper in today’s Asia-Pac session after yesterday’s ADP-induced bear flattener. Today’s US calendar will see Weekly Claims, Factory/Durable Goods Orders and ISM Services, followed by Friday's headline Non-Farm Payrolls for September.
  • US nonfarm payrolls growth is expected to have firmed marginally to 150k in September although some analysts also look for upward revisions to August.  (See MNI Employment Preview here)
  • Cash ACGBs are 5-6bps cheaper, with the AU-US 10-year yield differential at +22bps.
  • Swap rates are 5-6bps higher.
  • The bills strip has bear-steepened, with pricing -3 to -7.
  • RBA-dated OIS pricing is 2-5bps firmer beyond the November meeting. A cumulative 13bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Household Spending and Home Loans data alongside the AOFM’s planned sale of A$700mn of the 2.75% 21 November 2027 bond.
183 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 -6.0 & XM -7.0) are cheaper after dealing in narrow ranges in today’s data-light Sydney session.

  • Outside of the previously outlined trade balance and Judo bank PMIs, the market’s focus was likely on the IMF’s warning that the government and the RBA need to work together to bring down inflation.
  • Cash US tsys are 1-2bps cheaper in today’s Asia-Pac session after yesterday’s ADP-induced bear flattener. Today’s US calendar will see Weekly Claims, Factory/Durable Goods Orders and ISM Services, followed by Friday's headline Non-Farm Payrolls for September.
  • US nonfarm payrolls growth is expected to have firmed marginally to 150k in September although some analysts also look for upward revisions to August.  (See MNI Employment Preview here)
  • Cash ACGBs are 5-6bps cheaper, with the AU-US 10-year yield differential at +22bps.
  • Swap rates are 5-6bps higher.
  • The bills strip has bear-steepened, with pricing -3 to -7.
  • RBA-dated OIS pricing is 2-5bps firmer beyond the November meeting. A cumulative 13bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Household Spending and Home Loans data alongside the AOFM’s planned sale of A$700mn of the 2.75% 21 November 2027 bond.