Free Trial

Bid Extends

AUSSIE BONDS

Local participants are building on the bullish overnight impetus. There hasn’t been much in the way of overt headline flow to trigger the move, although some RBA tightening premium has come out of the IB space (after Fed rate hike premium pared further on Tuesday), with the year-end cash rate now seen below 2.50%, per BBG WIRP (a ~7bp markdown vs. late Tuesday levels). Opening comments from RBA Assistant Governor (Economics) Ellis haven’t added much to the monetary policy debate, at least at first glance. YM & XM have breached their respective overnight peaks, with the former now +15.0 on the day, while the latter is 10.0 better off. A semi supply announcement from the ACT hasn’t impacted the space. The 2- to 3-Year zone of the cash ACGB curve outperforms in wider ACGB trade.

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.