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AUSSIE BONDS: Cheaper On A Data Light Session

AUSSIE BONDS
BulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM -5.0 & XM -8.5) are weaker and at Sydney session lows on a data-light session. 

  • Today, the local calendar will see RBA's Jones-Fireside Chat at Conexus at the Superannuation Chair Forum. The next data releases are CoreLogic Home Value and S&P Global PMI Mfg on January 2.
  • Cash US tsys are slightly richer, with a steepening bias, in today’s Asia-Pac session after Friday’s heavy session. US data this week includes MNI PMI and Pending Home Sales on Monday, FHFA housing data on Tuesday, weekly claims and construction spending on Thursday, and ISMs on Friday.
  • Cash ACGBs are 5-8bps cheaper with the AU-US 10-year yield differential at -16bps.
  • Swap rates are 3-6bps higher, with the 3s10s curve steeper.
  • The bills strip is slightly weaker, with contracts -1 to -2.
  • RBA-dated OIS pricing is slightly firmer across meetings. A 25bps rate cut is more than fully priced by April (125%), with a 58% probability of a February cut. 
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ACGBs (YM -5.0 & XM -8.5) are weaker and at Sydney session lows on a data-light session. 

  • Today, the local calendar will see RBA's Jones-Fireside Chat at Conexus at the Superannuation Chair Forum. The next data releases are CoreLogic Home Value and S&P Global PMI Mfg on January 2.
  • Cash US tsys are slightly richer, with a steepening bias, in today’s Asia-Pac session after Friday’s heavy session. US data this week includes MNI PMI and Pending Home Sales on Monday, FHFA housing data on Tuesday, weekly claims and construction spending on Thursday, and ISMs on Friday.
  • Cash ACGBs are 5-8bps cheaper with the AU-US 10-year yield differential at -16bps.
  • Swap rates are 3-6bps higher, with the 3s10s curve steeper.
  • The bills strip is slightly weaker, with contracts -1 to -2.
  • RBA-dated OIS pricing is slightly firmer across meetings. A 25bps rate cut is more than fully priced by April (125%), with a 58% probability of a February cut.