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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.
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Free AccessMNI BRIEF: Aussie Labour Market Tightens, Unemployment At 3.9%
MNI FOMC Hawk-Dove Spectrum
Front End Rates Mostly Skewed Lower This Week
INDIA
- In a week dominated by the new budget, it was easy to miss the analysis showing the benefit of India’s inclusion in the JPMorgan index recently
- Long dated demand from overseas investors (according to The Clearing Corporation of India showed that the maturity of over 20% of foreign investors holdings were in excess of 10 years, per BBG).
- The addition of India into the benchmark is timely given the recent budget committing to continued fiscal targets and voices within the Central Banks entertaining the idea of cuts.
- As with other Central Banks globally, the Indian Central Bank’s decision makers will be considering their next moves in the context of FED moves
- Bonds performed well across the curve today as yields finished lower on the week
2yr 6.762 (-4bp) 6.856% (-2bp) 6.943% (-1bp) 7.027% (-0.5bp)
INDONESIA
- In the absence of key data releases the Indonesian market took guidance from good demand for new issues and regional expectations for rate cuts.
- New issues drew up to 4 times demand for the new securities issued in 2029, 2034, 2043 and 2054 maturities
- Yields finished lower for the week across shorter dated maturities with intermediate to longer dated securities finishing flat to marginally higher due to issuance.
2yr 6.762% (-4bp) 5yr 6.856% (-2bp) 10yr 6.943% (-1bp) 30yr 7.027% (-0.5bp)
SOUTH KOREA
- The week was dominated by weaker than expected data pushing investors to position for rate cuts.
- This puts the BOK in an interesting position ahead any moves by the FED and property prices in Seoul rising more than expected.
- Bond yields followed regional trends with most maturities finishing the day lower with the exception of 3-5 year maturities, following KRW1.1tn of issuance.
2yr 3.107% (-1.5bp) 5yr 3.087% (+3bp) 10yr 3.119% (-1bp) 30yr 3.00% (-0.5bp)
To read the full story
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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.