MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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

Cheapening Now Apparent

AUSSIE BONDS

With nothing on the local calendar Aussie bonds give back early strength with YM -3.0 and XM +0.5, as U.S. Tsy futures drift lower in early Asian trading (cash Tsys are closed for observance of the Presidents Day holiday). Cash ACGB yields are ~3bp higher than their respective morning lows, with the 3/10 cash curve maintaining its 3bp flattening on the day.

  • Swaps, mirroring bonds, also see rates move higher from morning lows but remain 2-4bp lower on the day with the 3s10s curve 4bp flatter.
  • A reds-led reversal was seen in Bills alongside the move in bonds, with the strip +2 to -3, twist steepening, versus small gains in the morning.
  • March meeting RBA-dated OIS holds its morning level at an 88% chance of a 25bp hike. Terminal rate expectations however move 3bp higher from morning levels to be back near the top of its recent 4.10 to 4.22% trading range.
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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.