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

Bull Flattening Takes Hold Ahead Of Budget Speech

AUSSIE BONDS

Bull flattening in ACGB yield curve was evident, with U.S. Tsy curve undergoing a similar (albeit less pronounced) transformation. At typing, ACGB yields sit 1.7-8.3bp lower, as we await tonight's budget speech. The gap between 3-Year/10-Year yields narrowed at the margin and last sits at 48.75bp.

  • Futures contracts traded with a bullish bias, while flattening impetus took hold; YM last +1.0 & XM +5.5, stabilising near session highs after the initial rally. A rebound in Chinese/HK equities likely contributed to the moderation in demand for core FI assets.
  • Bills run unch. to +6 ticks through the reds.
  • Treasurer Chalmers said that accelerating inflation was the "primary influence" on the spending plan, as he prepares to deliver his budget speech at 19:30 AEDT/09:30 BST (see our preview here).
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.