Free Trial

Aussie Bonds have stuck to a tight.....>

AUSSIE BONDS
AUSSIE BONDS: Aussie Bonds have stuck to a tight range in early dealing this
week after some underperformance vs. Tsys late Friday as U.S. paper benefitted
from Fed Chair Powell's dovish remarks.
- The cash 3-/10-Year yield differential continues to trade just above 50bp,
while the AU/U.S. 10-Year yield spread has moved in to ~-27.0bp.
- 3-Month BBSW fixed virtually unchanged today, with the Bill strip last trading
unchanged to 3 ticks softer than Friday's settlement on the back of the
aforementioned softness during SYCOM dealing, aided by the S&P500 reaching a
fresh all-time high in the final session of last week.
- Looking at the interbank strip, there has been decent activity in IBJ9 this
morning, with some ~11K changing hands at 98.495. As a reminder, many banks have
pushed back their calls for the first hike from the RBA in recent weeks, with
Westpac now exp. the RBA to remain on hold through 2020.
- Thursday's Q2 CapEx data provides the focal point on the AU docket this week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.