Free Trial

CPI Day

AUSSIE BONDS

The U.S. Tsy space dragged futures flatter overnight, with YM unch. and XM +3.0.

  • Early speculation is doing the rounds re: the NSW COVID case count, with some suggestions that the state could record 200+ new cases today.
  • Elsewhere, Q2 CPI will catch the eye. Consensus looks for a headline uptick to 3.7% Y/Y and 0.7% Q/Q, with the trimmed mean readings seen at +1.6% Y/Y and +0.5% Q/Q. The readings aren't expected to have any meaningful impact on RBA policy, given the broader views re: the transitory nature of the current inflationary impulse, but that does not mean that they cannot have an intraday impact on the ACGB space. As a reminder, the RBA has pencilled in 3.25% Y/Y for headline CPI and 1.5% Y/Y for trimmed mean inflation in Q2.
  • Further afield, Chinese equity market matters will catch the eye.
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.