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

Nov-29 Supply Goes Smoothly But Less Demand

AUSSIE BONDS

The latest round of ACGB Nov-29 supply comes as expected pricing comfortably through mids (weighted average yield was 1.22bps through prevailing mids, per Yieldbroker).

  • Nevertheless, the cover ratio revealed a relatively modest 2.5750x compared to the 3.3687x and 2.7125x for the recent auctions of the Nov-28 and Dec-30 lines.
  • Drawing comparisons with the previous auction of the Nov-29 bond might be deemed irrelevant, considering it took place back in February 2023.
  • As noted in the MNI Auction Preview, today's auction was expected to have been influenced by several factors, including the richness of the curve's belly compared to the 2s and 10s, and the exclusion of the line from the YM basket. Consequently, the line found itself in the less favoured segment of the yield curve.
  • The Nov-29 line is around 1bp cheaper in cash post-auction trading.
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.