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Flatter In Muted Trade

AUSSIE BONDS

The ACGB curve has flattened in Sydney trade. YM unch., XM +2.0. Local headline flow has once again been limited at best, although swappable A$ issuance is at the fore. Transurban Queensland Finance launched its previously touted round of 10.25-Year MTN issuance (set to price today), while Network Finance is taking IOIs on long 7-Year fixed/FRN issuance. Swappable A$ issuance can support ACGBs around the time of pricing.

  • Local Q1 CPI data headlines on Wednesday. The reading has the ability to create some short-term volatility for bonds, but shouldn't result in anything like a meaningful shift in RBA pricing. Elsewhere, the latest round of weekly ABS payrolls data is due, as is the preliminary monthly trade balance reading.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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