Free Trial

Firmer Than Expected Retail Sales Pulls ACGBs From Best Levels

AUSSIE BONDS

Firmer than expected retail sales data has seen the ACGB space move away from best levels, after softer regional equity indices and a downtick in crude oil prices provide a bid ahead of the data release. Note that the firmer than expected retail sales print was supported by rising prices, a point that we flagged ahead of the release. YM is -0.5 on the day after a foray into positive territory, while XM is -3.5. The wider ACGB curve has been subjected to bear steepening pressure, with 30s running 5bp cheaper on the session. Bills run 3-5bp softer through the reds.

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.