MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Little Changed, US Tsys Subdued Ahead Of The Weekend, Q2 CPI On Wednesday

AUSSIE BONDS

ACGBs (YM +1.0 & XM flat) are little changed after US tsy trading was subdued going into the weekend and ahead of Wednesday’s FOMC policy decision. While a 25 bp rate hike is all but done, Fed funds futures are showing about a 30% chance for a second 25bp tightening later in the year. Cash US tsys finished dealing ~1bp richer across the major benchmarks on Friday. A recovery off session lows was facilitated by source reports which pointed to a deal on Russian grain.

  • Cash ACGBs opened unchanged with the AU-US 10-year yield differential at +18bp.
  • Swap rates are also dealing little changed.
  • Bills are trading mixed with pricing -1 to +1.
  • RBA-dated OIS opens with pricing slightly softer across meetings. A 62% chance of a 25bp hike is priced for August.
  • Today the local calendar sees Judo Bank PMI data ahead of Q2 CPI on Wednesday. Bloomberg consensus expects headline CPI to print +1.0% q/q (5.5% y/y) versus +1.4% q/q (5.6% y/y) in Q1. Power rebates are holding down inflation while goods prices continue to rise. Trimmed Mean CPI is forecast to print +1.1% q/q (6.0% y/y) from +1.2% (6.6% y/y) in Q1, +1.7% in Q4 and +1.9% in Q3.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

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.