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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.
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Free AccessClosed Slightly Weaker, Focus Abroad
NZGBs closed 1-3bps cheaper, at session worst levels, with the 2/10 curve steeper. With the local calendar empty today, local participants have been guided from abroad ahead of this week's policy meetings for the BOJ (tomorrow), FOMC (Wednesday) and the BOE (Thursday). Although no substantial changes in policy are anticipated at these meetings, their potential to influence the market still looms large. Notably, there is a level of uncertainty surrounding the possibility of the BOJ making further adjustments to its yield curve control.
- Cash US tsys are 3-4bps cheaper so far in the Asia-Pac session. There has been little by way of newsflow today.
- Swap rates closed with a twist-steepening, rates 1bp lower to 2bps higher.
- RBNZ dated OIS pricing closed little changed across meetings, with terminal OCR expectations at 5.61%.
- Tomorrow, the local calendar sees Building Permits and ANZ Business Confidence.
- The US calendar sees the US Treasury's quarterly borrowing estimates later today. Wednesday sees the FOMC policy announcement along with ADP Private Employment data, ahead of Friday’s Non-Farm payrolls.
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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.