FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Muted Open, RBA Minutes Due

AUSSIE BONDS

ACGBs are little changed (YM flat & XM flat) after US tsy yields declined 2-3bp out to the 20-year with the 2-year closing at 4.74% with the 10-year at 3.81%. The 2/10 curve was little changed around -93bp. It was a muted NY session on Monday with US tsys respecting recent ranges with little follow-through on moves. Light volumes observed.

  • Cash ACGBs opened flat to 1bp richer with the AU-US 10-year yield differential at +17bp.
  • Swap rates are 1bp lower.
  • Bills pricing is -1 to +1.
  • RBA dated OIS pricing opened little changed across meetings with a 38% chance attached to a 25bp hike in August. Terminal rate expectations sit at 4.44% (Feb’24).
  • (AFR) Despite the steep rise in borrowing costs, house prices appear to again be pushing higher. According to CoreLogic, national home values rose 2.8 per cent in the June quarter, the highest quarterly rise since January 2022. (See link)
  • Today sees the release of the RBA Minutes for the July meeting, with the market looking for more details about the July pause.
  • Later today sees June US retail sales and industrial production, May US business inventories, and the July NAHB housing market index.
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.