MNI: US OCT FINAL MANUF PMI 48.5 (FLASH: 47.8); SEP 47.3

MNI: BLS: NET REVISIONS TO SEPT, AUG PAYROLLS -112K

MNI: UK OCT FINAL MANUF PMI 49.9 (FLASH: 50.3); SEP 51.5

MNI China Daily Summary: Friday, November 1

MNI: PBOC Net Drains CNY275.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1135 Fri; +2.83% Y/Y

MNI: US SEP CONSTRUCT SPENDING +0.1%

MNI: US ISM OCT MANUF PURCHASING MANAGERS INDEX 46.5

EZ/UK Bond Supply Calendar: EU-Bond Auction on Monday

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUSSIE BONDS: Weaker, Near Sydney Session Cheaps, No Cash Tsy Dealings

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM -5.0 & XM -4.5) are weaker and near Sydney session lows, although ranges have been narrow.

  • There are no cash US tsy dealings today with Japan out on holiday. TYZ4 currently deals at 114-20+, -0-06+ from Friday’s closing levels.  
  • Outside of the previously outlined Judo bank PMIs, there hasn't been much by way of domestic drivers to flag.
  • Cash ACGBs are 4bps cheaper with the AU-US 10-year yield differential at +21bps.
  • Swap rates are 4bps higher.
  • The bills strip has bear-steepened, with pricing -3 to -6.
  • RBA-dated OIS pricing is 2-5bps firmer across 2025 meetings. A cumulative 15bps of easing is priced by year-end.
  • Australian Treasurer Jim Chalmers’ plans to overhaul the Reserve Bank suffered a major setback after the left-wing Greens party demanded the government order the central bank to cut interest rates. (per BBG)
  • The RBA's Policy Decision is due tomorrow, with Bloomberg consensus is unanimous in expecting a no-change outcome. 
148 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 -5.0 & XM -4.5) are weaker and near Sydney session lows, although ranges have been narrow.

  • There are no cash US tsy dealings today with Japan out on holiday. TYZ4 currently deals at 114-20+, -0-06+ from Friday’s closing levels.  
  • Outside of the previously outlined Judo bank PMIs, there hasn't been much by way of domestic drivers to flag.
  • Cash ACGBs are 4bps cheaper with the AU-US 10-year yield differential at +21bps.
  • Swap rates are 4bps higher.
  • The bills strip has bear-steepened, with pricing -3 to -6.
  • RBA-dated OIS pricing is 2-5bps firmer across 2025 meetings. A cumulative 15bps of easing is priced by year-end.
  • Australian Treasurer Jim Chalmers’ plans to overhaul the Reserve Bank suffered a major setback after the left-wing Greens party demanded the government order the central bank to cut interest rates. (per BBG)
  • The RBA's Policy Decision is due tomorrow, with Bloomberg consensus is unanimous in expecting a no-change outcome.