MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

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, Subdued Session Ahead Of Fed Chair’s Chat, RBA Decision On Tuesday

AUSSIE BONDS

ACGBs (YM -5.0 & XM -7.0) are cheaper and at or near Sydney session lows. The session has been subdued with the domestic data drop failing to provide a market-moving event. Local participants have been content to sit on the sidelines ahead of Fed Chair Powell’s fireside chat later today. The FOMC media blackout begins Friday at midnight ET. The US calendar also sees the release of the ISM manufacturing index.

  • Cash ACGBs are 6-8bps cheaper, with the AU-US 10-year yield differential 7bps wider at +16bps.
  • Swap rates are 5bps higher, with EFPs around 2bps tighter.
  • The bills strip bear-steepens, with pricing -1 to -8.
  • RBA-dated OIS pricing is flat to 3bps softer across meetings.
  • Next week, the local calendar sees Q3 Inventories and Company Profits on Monday, along with Melbourne Institute Inflation Gauge, Home Loans and ANZ-Indeed Job Ads monthly data. Judo Bank Composite & Services PMIs and Q3 BOP data drops on Tuesday ahead of the RBA Policy Decision. 23/24 economists surveyed expect the RBA to leave the cash rate at 4.35%. The market attaches a 9% chance of a 25bp hike next week. Q3 GDP is due for release on Wednesday.
  • The AOFM plans to sell A$700mn of the 3.75% April 2037 on Wednesday.
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.