MNI China Daily Summary: Wednesday, December 11

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: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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, Waiting For Payrolls, CPI Monthly Next Wednesday

AUSSIE BONDS

ACGBs (YM -5.0 & XM -6.0) remain cheaper after dealing in relatively tight ranges in today’s Sydney session. With the local calendar empty, local participants have held the negative overnight lead in from US tsys ahead of Non-Farm Payrolls later today.

  • Bloomberg consensus sees nonfarm payrolls growth of 171k in December after November’s 199k was boosted by 38k workers returning from strikes. See MNI's NFP Preview here.
  • Cash US tsys are dealing little changed in today’s Asia-Pac session after yesterday’s 5-8bps cheapening.
  • Cash ACGBs are 5-6bps cheaper, with the AU-US 10-year yield differential 1bp tighter at +11bps.
  • Swap rates are 6bps higher, with the 3s10s curve unchanged.
  • The bills strip is cheaper, with pricing -2 to -7.
  • RBA-dated OIS pricing is 3-6bps firmer for meetings beyond May.
  • Following the Australian Government’s release of the Mid-Year Economic and Fiscal Outlook (MYEFO) in December 2023, the AOFM announced today that Treasury Bond issuance for 2023-24 is planned to be around $50 billion (of which $23.6 billion has been completed).
  • Next week the local calendar heats up with the release of Retail Sales and Building Approvals on Tuesday, and Job Vacancies and November’s CPI Monthly 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.