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CHINA RATES

China Repo Rates Rise Tuesday

TWD

Weakens After Breaching Key Level

CHINA PRESS

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KRW

Runs In To 50-DMA

Bond futures have backed away from.....>

AUSSIE BONDS
AUSSIE BONDS: Bond futures have backed away from early highs, as broader risk
appetite has recovered, in what has been a lacklustre session thus far.
- Broader gyrations in risk appetite have largely set the tone.
- AU 3-/10-Year cash yield differential last 62.9bp, ~1.0bp flatter on the day,
with the AU/U.S. 10-Year cash yield spread last -44.5bp.
- Looking at the corporate slate, JPMorgan have launched a multi-tranche A$
offering, while Toyota Finance Australia have mandated banks as they consider a
3- or 5-Year A$ deal. As a reminder, late on Friday the AFR reported that
Lendlease had to abandon its A$500mn bond issue on the back of a material
write-down.
- On the semi front, SAFA are re-opening up to A$1bn of its May 2028 line, with
guidance of 10-Year futures +48-49.
- 3-Month BBSW fixed 0.12bp higher today, with Bills unchanged to 3 ticks
higher.
- Focus this week moves to AU labour market data, wage prices, inflation exp.,
biz/consumer confidence, as well as an address from RBA Dep. Gov. Debelle.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com