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 China Daily Summary: Tuesday, December 10

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

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

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

Cheaper, Mid-Range, No Data, Supply Goes Smoothly

AUSSIE BONDS

ACGBs (YM -3.0 & XM -4.5) are sitting in the middle of the Sydney session range, paring some of the rally seen yesterday after the RBA left the cash rate unchanged at 4.10%. There have been no economic data releases today.

  • US tsys have ticked away from session highs in recent dealing and now sit in line with levels late in Tuesday's NY session. Perhaps the Fitch downgrade, which was based on governance and medium-term fiscal challenges but not new fiscal information, helped cap gains. This leaves US tsys flat to 2bps richer, with a light bull steepening.
  • Cash ACGBs are 2-5bp cheaper with the AU-US 10-year yield differential -3bp at flat.
  • Expectations of sustained strong pricing at today's auction of the May-34 bond proved accurate, as the weighted average yield printed 1.0bp through prevailing mids. However, the cover ratio moved lower to 2.9857x from 4.2714x at the June auction.
  • Swap rates are 1-4bp higher with the 3s10s curve steeper.
  • The bills strip is richer with pricing flat to +2.
  • RBA-dated OIS pricing is 1-3bp softer across meetings.
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.