MNI BRIEF: Aussie Monthly CPI At 4%, Higher Than Expected

MNI: PBOC Net Drains CNY28 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY250 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1248 Weds; -0.56% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1248 WEDS VS 7.1225

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

Monthly CPI Firmer In Y/Y Terms, Core Measure Mixed

Australia May CPI +4.0%; Housing Price +5.2%

MNI: AUSTRALIA MONTHLY MAY CPI 0.2% MM, 4.1% YY

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Cheaper But Off Worst Levels, BOJ Policy Decision Due

AUSSIE BONDS

ACGBs (YM -2.0 & XM -5.0) are holding in negative territory but above the Sydney session’s morning lows. With the domestic calendar light (Judo Bank preliminary PMIs only data released), local participants have been on headlines and US tsys watch.

  • After pushing to multiyear highs on Thursday, long-dated US tsys are dealing ~1bp cheaper in Asia-Pac trade. Ranges have been narrow.
  • The highlight of today's Asian session is the BOJ Policy Decision. Our analysis aligns with the prevailing consensus that is anticipating that the BOJ will maintain its existing policies in today's announcement, including the short-term interest rate remaining at -0.1%. (See MNI’s BOJ Preview here)
  • Cash ACGBs are 1-5bps cheaper, with the AU-US 10-year yield differential 2bp lower at -15bps.
  • The 3s10s swap curve has twist-steepened, with rates 1bp lower to 4bps higher. EFPs are tighter.
  • The bills strip is richer, with pricing flat to +2
  • RBA-dated OIS pricing is flat to 3bps softer across meetings, with Jun’24 leading.
  • (AFR) Bullock’s power hinges on RBA appointments. “I don’t think the governor loses power,” Dr Parkinson said. “Because the governor has to win by influencing and think about their messaging with the board, in the same way, they have to think about their messaging with the public.” (See link)
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.