Free Trial

Conflicting Forces

AUSSIE BONDS

YM -1.0, XM -3.5, a touch off their respective Sydney lows, in what has been fairly limited trade. Softer than expected official Chinese PMI data helped the space find a bit of a base after what seemed to be a case of offshore-related pressure (stemming from U.S. Tsys and heavy offers in the latest RBNZ LSAP operation) early on.

  • Next week's AOFM issuance slate proved to be relatively vanilla. Elsewhere, the latest round of ACGB Jun '31 supply saw the weighted average yield stop 0.73bp through prevailing mids at the time of supply (per Yieldbroker pricing), meanwhile, local private sector credit growth topped exp.
  • Month-end extension flows are eyed, given the upcoming maturity of ACGB 5.75% 15 May 2021.
  • Next week's RBA decision (Tuesday) and release of the SoMP (Friday) will be supplemented by an address from RBA Deputy Governor Debelle (Thursday), which will cover the topic of "Monetary Policy during Covid."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.