MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

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: Richer, Narrow Ranges, Focus On Middle East

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM +3.0 & XM +4.5) are stronger after dealing in narrow ranges in today’s Sydney session. With the domestic calendar empty today, the local market was on Middle East headlines watch.

  • Cash US tsys are slightly cheaper, in today’s Asia-Pac session after yesterday’s haven-induced rally. The US calendar will see MBA Mortgage Applications and ADP Employment Change data later today.
  • Cash ACGBs are 3-4bps richer with the AU-US 10-year yield differential at +23bps.
  • Today’s ACGB Jun-35 auction once again demonstrated solid pricing, with the weighted average yield coming in below prevailing mid-yields and the cover ratio increasing to 3.7563x.
  • TCorp issued A$500mn of its 3.00% 20 March 2028, 3.00% 20 April 2029 and 3.00% 20 February 2030 benchmark bonds via Yieldbroker tender. The auction was conducted on an exchange for a physical basis against the December bond futures contracts.
  • The bills strip is slightly richer, with pricing flat to +1.
  • RBA-dated OIS pricing is little changed across meetings. Nevertheless, 2025 meetings are 2-4bps firmer than pre-RBA levels. A cumulative 13bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Judo Bank Composite & Services PMIs and Trade balance data.
187 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 +3.0 & XM +4.5) are stronger after dealing in narrow ranges in today’s Sydney session. With the domestic calendar empty today, the local market was on Middle East headlines watch.

  • Cash US tsys are slightly cheaper, in today’s Asia-Pac session after yesterday’s haven-induced rally. The US calendar will see MBA Mortgage Applications and ADP Employment Change data later today.
  • Cash ACGBs are 3-4bps richer with the AU-US 10-year yield differential at +23bps.
  • Today’s ACGB Jun-35 auction once again demonstrated solid pricing, with the weighted average yield coming in below prevailing mid-yields and the cover ratio increasing to 3.7563x.
  • TCorp issued A$500mn of its 3.00% 20 March 2028, 3.00% 20 April 2029 and 3.00% 20 February 2030 benchmark bonds via Yieldbroker tender. The auction was conducted on an exchange for a physical basis against the December bond futures contracts.
  • The bills strip is slightly richer, with pricing flat to +1.
  • RBA-dated OIS pricing is little changed across meetings. Nevertheless, 2025 meetings are 2-4bps firmer than pre-RBA levels. A cumulative 13bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Judo Bank Composite & Services PMIs and Trade balance data.