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Futures Twist A Little Steeper

AUSSIE BONDS

The YM/XM curve twist steepened during overnight trade, with the space regaining some poise as U.S. equities softened, allowing an unwind of the early post-Sydney weakness, which was linked to German regional inflation data and the fiscal situation in the UK.

  • YM deals +1.5 while XM is -1.5 early on, loosely in line with late overnight levels.
  • Bills run +1 to -1 through the reds.
  • Private sector credit data and A$700mn of Nov-28 ACGB supply headline domestically on Friday. Elsewhere, the AOFM will release its weekly issuance slate.
  • Chinese official PMIs and Caixin manufacturing PMI data provide offshore points of interest ahead of the weekend.
  • A reminder that Sydney, the ACT and South Australia observe the Labour Day holiday on Monday, which will thin out liquidity in the futures space and result in the closure of the cash ACGB market. Queensland will also observe a public holiday.
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The YM/XM curve twist steepened during overnight trade, with the space regaining some poise as U.S. equities softened, allowing an unwind of the early post-Sydney weakness, which was linked to German regional inflation data and the fiscal situation in the UK.

  • YM deals +1.5 while XM is -1.5 early on, loosely in line with late overnight levels.
  • Bills run +1 to -1 through the reds.
  • Private sector credit data and A$700mn of Nov-28 ACGB supply headline domestically on Friday. Elsewhere, the AOFM will release its weekly issuance slate.
  • Chinese official PMIs and Caixin manufacturing PMI data provide offshore points of interest ahead of the weekend.
  • A reminder that Sydney, the ACT and South Australia observe the Labour Day holiday on Monday, which will thin out liquidity in the futures space and result in the closure of the cash ACGB market. Queensland will also observe a public holiday.