MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI: GERMANY MAY FACTORY ORDERS -1.6% M/M

MNI: SWISS JUN UNEMPLOYMENT -0.9% M/M, +22.8% Y/Y

Australia May Exports +2.8%; Imports +3.9%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Cheapening Into Christmas

AUSSIE BONDS

Aussie bonds nudged away from worst levels into the pre-Christmas close, after the impact of Thursday’s cheapening in core global FI markets applied some weight to the space in Sydney hours.

  • Both YM & XM printed through their overnight lows, settling -5.0 & -3.0, respectively, while wider cash ACGB trade saw a similar degree of bear flattening. The AU/U.S. 10-Year yield spread continues to hover around multi-month highs, in the ~+15bp zone.
  • Bills were 2-7bp cheaper through the reds, while RBA dated OIS pricing was little changed to a touch higher, looking for 18-19 of tightening at the Feb ’23 meeting, alongside a terminal cash rate of ~3.85%.
  • Broader news flow was limited, with domestic private sector credit data printing in line with wider expectations.
  • The domestic docket is empty between Christmas and NY.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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