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RBA

Semi-Government Bond Purchase Offer Details

AUSSIE BONDS

ACGB Apr-24 Under Pressure

JGBS

Futures Off Lows Overnight

AUD

CPI In The Spotlight

Futures Give Back Light Gains

JGBS

JGB futures gave back their early, modest gains as they finished the morning session 3 ticks below settlement levels, with some light underperformance creeping into the belly of the cash curve.

  • Finance Minister Aso offered little new, as he pointed to the need to revitalise the economy and focus on seeking a balanced budget.
  • In terms of Rinban ops, the latest round of 5-10 Year purchases saw a moderation in the offer to cover ratio (down to 1.72x) and a tightening of the spreads the ops were conducted at.
  • Little to look to on the afternoon docket, outside of 3-Month bill supply.