Free Trial

Timeline of key events (Times GMT)


Remains Vulnerable


SFRH4 Given


(H3) Pierces Key Short-Term Support


USD/Asia Pairs Up From Earlier Lows


Doji Candle Highlights A Potential Base

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Early Gains Pared, ACGB Nov-32 Sale Causes Little Reaction


ACGBs pulled back from highs, losing ground alongside U.S. Tsys as the session progressed. The sale of ACGB Nov-32 came and went, while the release of the AOFM's weekly issuance slate coincided with a brief bout of increased volatility.

  • The auction of a Nov' 32 note drew a bid/cover ratio of 2.38x, down from 3.19x at the previous offering, while the tail widened. The yield on that tenor in secondary market sits at 1.42%, with little in the way of reaction to the auction today.
  • The AOFM outlined its plans to hold just one bond auction next week, offering A$800mn of ACGB Nov-28 next Wednesday. It also outlined plans to issue a new May-34 Bond via syndication in the week beginning Nov 7.
  • Local data were shrugged off, with PPI inflation quickening to +6.4% Y/Y in Q3 from +5.6% prior. This comes after an expectation-busting CPI report published earlier this week.
  • Benchmark futures contracts have virtually unwound early gains, with YM last +8.0 & XM +6.0 as YMXM sits +1.5. Bills run 3-10 ticks higher through the reds.
  • ACGB curve still runs slightly steeper, with yields last 7.0-5.2bp lower. 3-Year/10-Year differential has tightened at the margin.
  • Swaps still fully price a 25bp rate hike from the RBA at next week's Board meeting.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.