Free Trial

Early Bid Seemingly Capped By JGB Weakness

AUSSIE BONDS

The previously alluded to cheapening in JGBs seems to have capped the early Sydney bid in ACGBs, with YM +7.0 and XM +7.0. Note that YM has looked through its overnight peak, while XM has failed to do the same, at least thus far. Cash ACGBs run 6.0-7.5bp richer across the curve. EFPs are a little wider to flat on the day, with the 3-/10-Year box flattening. Bills sit 4-11bp richer through the reds, firming a touch alongside bonds in early dealing. Note that domestic housing finance data failed to impact the space, printing softer than expected.

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.