Free Trial

Cheaper Again

AUSSIE BONDS

The weakness in core global fixed income markets, tied to Gilts and the prospect for further fiscal loosening in the UK, continued to apply pressure in post-Sydney dealing, leaving YM -5.0 & -13.0 shortly after the Sydney re-open, through/at respective overnight lows as domestic participants adjust to the wider moves observed on Monday.

  • The intermediate-driven weakness in U.S. Tsys resulted in XM leading the weakness when it came to bond futures trading, pulling the YM/XM curve away from cycle flats.
  • Bills run 1-9bp cheaper through the reds, with OIS RBA terminal rate pricing incrementally higher this morning, nudging up towards 4.40%.
  • There isn’t much to note on the domestic docket today, with A$100mn of Nov-32 indexed supply from the AOFM and the weekly ANZ-Roy Morgan consumer confidence print due.
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.