-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCheaper But Well Off Lows After Building Apps Miss & NZGB Rally, FOMC Decision Due
ACGBs (YM -3.0 & XM -3.0) remain cheaper but are well above the Sydney session’s worst levels. This push away from session cheaps can be attributed to weaker-than-expected building approvals data and spillover from NZGB’s post-employment data rally. NZ Q3 employment contracted 0.2% q/q after rising 1%, the first drop since Q2'22. Nevertheless, wages looked stubborn, with Q3 labour costs rising 1.1% q/q and 4.3% y/y.
- The intraday rally in ACGBs was also assisted by US tsy dealings in the Asia-Pac session. Cash US tsys are 1-3bp richer, ahead of the FOMC decision later today.
- The cash ACGB 10-year yield is 4.96%, 3bps higher on the day, after earlier touching 5.0% for the first time since 2011.
- Swap rates are 1-2bps higher.
- The bills strip is flat to -2.
- RBA-dated OIS pricing is 2bps firmer (Feb’24) to 1bp softer (Jun’24) across meetings, with terminal rate expectations at 4.54% (+47bps by Jun’24). The expected terminal rate hit 4.58% earlier in the session.
- Tomorrow, the local calendar will see Trade Balance and Home Loan data.
- AFR reports that the IMF, in a staff report, said Australia needs to tighten monetary policy further as part of stepped-up efforts to rein in inflation that include governments slowing the pace of public investment. (See link)
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.