Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

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

Local Data Vs. Geopolitics

AUSSIE BONDS

ACGBs came under some light pressure into the bell after AP source reports suggested that the missile that hit Polish land on Tuesday (killing two Polish civilians) “was fired by Ukrainian forces at an incoming Russian one,” per preliminary assessments flagged by U.S. officials. This came after U.S. President Biden suggested that it was” unlikely” that the missile was fired from Russia, while the G7 failed to lay the blame for the events at the feet of Russia. This left YM +4.0 & XM +3.5 at the close. Wider cash ACGBs print 3.5bp richer to 2.0bp cheaper, twist steepening with a pivot around 15s.

  • Some light narrowing in EFPs provided modest support for ACGBs.
  • Marginally firmer than expected Q3 WPI data was largely in line with the picture painted in the survey measures that have helped to guide monetary policy in recent months, so the readings don’t really represent much in the way of game changing information for the RBA at this juncture. This comes after the Bank slowed its pace of tightening to 25bp hikes over its last couple of meetings. Some post-data vol. ensued, before a bid came back in, aided by some firming in U.S. Tsys at the time.
  • Bills were 1-11bp richer through the reds, bull flattening, generally following bonds, while RBA dated OIS was little changed on the day.
  • Looking ahead, the monthly labour market report headlines the domestic docket on Thursday.
237 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

ACGBs came under some light pressure into the bell after AP source reports suggested that the missile that hit Polish land on Tuesday (killing two Polish civilians) “was fired by Ukrainian forces at an incoming Russian one,” per preliminary assessments flagged by U.S. officials. This came after U.S. President Biden suggested that it was” unlikely” that the missile was fired from Russia, while the G7 failed to lay the blame for the events at the feet of Russia. This left YM +4.0 & XM +3.5 at the close. Wider cash ACGBs print 3.5bp richer to 2.0bp cheaper, twist steepening with a pivot around 15s.

  • Some light narrowing in EFPs provided modest support for ACGBs.
  • Marginally firmer than expected Q3 WPI data was largely in line with the picture painted in the survey measures that have helped to guide monetary policy in recent months, so the readings don’t really represent much in the way of game changing information for the RBA at this juncture. This comes after the Bank slowed its pace of tightening to 25bp hikes over its last couple of meetings. Some post-data vol. ensued, before a bid came back in, aided by some firming in U.S. Tsys at the time.
  • Bills were 1-11bp richer through the reds, bull flattening, generally following bonds, while RBA dated OIS was little changed on the day.
  • Looking ahead, the monthly labour market report headlines the domestic docket on Thursday.