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Core FI Rangebound In Thin NYE Trade

BOND SUMMARY

Core FI struggled for impetus in thin NYE trade. Macro headline flow was subdued and activity limited by several market closures across the region, including in Japan and South Korea. China's PMI figures came in slightly shy of expectations, but remained in expansionary territory, provoking little to no market reaction. T-Notes traded sideways within a very tight range, last sit -0-00+ at 137-30+. Eurodollars last seen +0.5 to -0.5 tick through the reds. Cash Tsys were closed owing to a public holiday in Tokyo. They will re-open in the London morning for shortened trading hours.

  • Aussie bonds also closed early after a degree of flattening crept into cash ACGB space. Yields sat +0.2bp to -1.5bp across the curve come the end of play. YM last deals +0.5, XM trades +1.0. Bills run unch. to +1 tick through the reds. Coronavirus matters continued to grab attention in Australia, with outbreaks in Sydney & Melbourne eyed. Victoria acting Premier Allan announced that the state will close its border with NSW from 11:59pm on Jan 1.
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