© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: BOJ Faces JPY50 Trln Loss If 10-Yr Hits 2% - Uchida

MNI BRIEF: Lower Feb CPI Print Adds to RBA Pause Case

MNI: PBOC Net Injects CNY133 Billion via OMOs Wednesday

Coming Up In The Asia-Pac Session On Wednesday

SARB Watch

EZ/UK Bond Supply Calendar: GR Synd Expected, PT Buyback Wed

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

MNI BRIEF: FDIC To Conduct Review Of Deposit Insurance

MNI BRIEF: Fed's Barr: Will Use All Tools To Keep Banks Safe

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Holding Gains As Market Calls End To Tightening

AUSSIE BONDS
BulletMarketsFixed Income NewsHomepage

In two-way trade ACGBs hold mid-range (YMM3 +23.4 & XMM3 +15.8) eyeing U.S Tsys as NAB Business Survey data fails to sustain a locally driven reaction.

  • While business confidence was soft, business conditions remained at a robust +17 with broad-based strength. In isolation, the data would have pointed to a further hike in April. The market responded accordingly with yields jumping around 2bp on the release.
  • That move however proved fleeting with ACGBs back tracking oscillations in U.S Tsys in Asia-Pac trade. At the time of writing, cash ACGBs were trading mid to high in their ranges in response to a cash Tsy twist flattening with 2-year yields 16bp higher and the 10-year -1bp.
  • Swaps rates are 12-22bp lower but 10-12bp off session bests.
  • Also of note, RBA-dated OIS has, at least temporarily, called an end to the tightening cycle with April meeting pricing around -2bp and 17bp of easing (-25bp earlier) priced by end-22.
153 words

To read the full story

Why Subscribe to

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.

In two-way trade ACGBs hold mid-range (YMM3 +23.4 & XMM3 +15.8) eyeing U.S Tsys as NAB Business Survey data fails to sustain a locally driven reaction.

  • While business confidence was soft, business conditions remained at a robust +17 with broad-based strength. In isolation, the data would have pointed to a further hike in April. The market responded accordingly with yields jumping around 2bp on the release.
  • That move however proved fleeting with ACGBs back tracking oscillations in U.S Tsys in Asia-Pac trade. At the time of writing, cash ACGBs were trading mid to high in their ranges in response to a cash Tsy twist flattening with 2-year yields 16bp higher and the 10-year -1bp.
  • Swaps rates are 12-22bp lower but 10-12bp off session bests.
  • Also of note, RBA-dated OIS has, at least temporarily, called an end to the tightening cycle with April meeting pricing around -2bp and 17bp of easing (-25bp earlier) priced by end-22.