Free Trial

Aussie bonds plunge after the strong...>

AUSSIE BONDS
AUSSIE BONDS: Aussie bonds plunge after the strong Aussie jobs data. Headline
was a strong gain of 61.6k jobs (est. 19k), the previous month's gain was
revised higher by 4.1k. The breakdown was also strong, gains across both Full
Time and Part Time jobs with the majority from full time. The employment rate
held at 5.4% but the participation rate rose from 65.2% to 65.5%.
- 3-Year future falls 5 ticks to 97.94, 10-Year future falls 3 ticks to 97.44.
Yields had opened the session lower but have accelerated the move. Curve
flattens, 3-/10-Year spread narrows 3.5bps to 49.7bp, tightest in 12 months.
- MNI technical analysis sees support at 97.900 in 3-Year - Low Oct 27, and at
97.4172 in 10-Year - Daily Bull channel base
- As a note volume has now rolled into the March (H8) contracts in both 3 and 10
Year futures.

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.