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Futures A Touch Steeper In Holiday Thinned Pre-RBA Trade

AUSSIE BONDS

The observance Labour Day holiday in NSW & the ACT limited wider liquidity in the Aussie bond space, as well as resulting in the closure of cash ACGB trade on Monday, making for a relatively limited round of futures trade ahead of tomorrow’s RBA decision.

  • YM -0.5 with XM -3.0, with the early steepening impulse holding, as YM flicked between positive and negative territory.
  • Tomorrow’s RBA decision provides the key domestic risk event this week. 22 of the 28 surveyed by BBG look for another 50bp step from the Bank, with 44bp of tightening priced by markets. We leans towards a 50bp hike, although this could be the final hike of that magnitude in the current hiking cycle (see our full preview of the event here).
  • Elsewhere, Tuesday’s domestic docket will bring ANZ job ads, housing finance and building approvals data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News

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