MNI: PBOC Net Injects CNY438 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1063 Tues; -4.47% Y/Y

CHINA PBOC INJECTS CNY440 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1063 TUES VS 7.1066

MNI China Daily Summary: Monday, April 29

MNI BRIEF: China Pushes Back Against Japan's Semiconductor Threat

CHINA APR CAIXIN MANUFACTURING PMI 51.4 VS 51.1 IN MAR

CHINA APR MANUFACTURING PMI 50.4 VS 50.8 IN MAR

Japan Mar Retail Sales +1.2% Y/Y

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Cheaper, Drifted Weaker As US Tsys Extend Post-Payrolls Sell-Off

AUSSIE BONDS
BulletMarketsFixed Income BulletsHomepage

ACGBs (YM -8.0 & XM -9.0) are holding cheaper after Friday's negative post-Payrolls lead-in from US tsys. Trading ranges have been relatively narrow, with news flow light. There hasn’t been much in the way of domestic drivers to flag, outside of the previously outlined Home Loan Values data.

  • Cash US tsys have extended Friday’s post-payrolls cheapening in today’s Asia-Pac session, with benchmark yields 1-3bps higher.
  • Looking ahead, the market’s focus is likely on US CPI and March FOMC minutes on Wednesday and PPI on Thursday.
  • Cash ACGBs are 7-9bps cheaper, with the AU-US 10-year yield differential 3bps lower at -23bps.
  • Swap rates are 7-8bps higher, with the 3s10s curve steeper.
  • The bills strip has bear-steepened, with pricing -1 to -9.
  • RBA-dated OIS pricing is 1-6bps firmer across meetings, with Mar-25 leading. A cumulative 30bps of easing is priced by year-end.
  • Tomorrow, the local calendar sees Westpac Consumer and NAB Business Confidence, ahead of CBA Household Spending and Consumer Inflation Expectations on Thursday.
  • On Wednesday, the RBNZ delivers its Policy Decision, with consensus unanimous in expecting the OCR to be left unchanged at 5.50%.
  • Also on Wednesday, the AOFM plans to sell A$800mn of the 4.75% April 2027 bond.
198 words

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.

ACGBs (YM -8.0 & XM -9.0) are holding cheaper after Friday's negative post-Payrolls lead-in from US tsys. Trading ranges have been relatively narrow, with news flow light. There hasn’t been much in the way of domestic drivers to flag, outside of the previously outlined Home Loan Values data.

  • Cash US tsys have extended Friday’s post-payrolls cheapening in today’s Asia-Pac session, with benchmark yields 1-3bps higher.
  • Looking ahead, the market’s focus is likely on US CPI and March FOMC minutes on Wednesday and PPI on Thursday.
  • Cash ACGBs are 7-9bps cheaper, with the AU-US 10-year yield differential 3bps lower at -23bps.
  • Swap rates are 7-8bps higher, with the 3s10s curve steeper.
  • The bills strip has bear-steepened, with pricing -1 to -9.
  • RBA-dated OIS pricing is 1-6bps firmer across meetings, with Mar-25 leading. A cumulative 30bps of easing is priced by year-end.
  • Tomorrow, the local calendar sees Westpac Consumer and NAB Business Confidence, ahead of CBA Household Spending and Consumer Inflation Expectations on Thursday.
  • On Wednesday, the RBNZ delivers its Policy Decision, with consensus unanimous in expecting the OCR to be left unchanged at 5.50%.
  • Also on Wednesday, the AOFM plans to sell A$800mn of the 4.75% April 2027 bond.