MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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

NZGBS: Closed On A Weak Note, Pressured By JGBs, US NFP Due

BONDS

NZGBs closed on a weak note, with benchmark yields 2-5bps higher led by the 10-year. This move came despite weak Q3 Manufacturing Activity data, which printed -2.8% q/q versus +0.2% prior.

  • The key driver of today’s session has been spillover softness from global markets, particularly JGBs. The JGB curve has bear-steepened, with yields 1-7bps higher, following higher-than-expected labour and real cash earnings data. Today’s move extends the sell-off sparked by yesterday’s poor 30-year auction result.
  • Cash US tsys are 1bp cheaper across benchmarks so far in the Asia-Pac session, ahead of this evening’s Non-Farm Payrolls release.
  • Swap rates closed 2-8bps higher, with the 2s10s steeper.
  • RBNZ dated OIS pricing closed 1-2bps firmer for meetings beyond July’24. Terminal OCR expectations remain at 5.54% but the market now has two 25bp rate cuts fully priced by Nov’24.
  • On Monday, the local calendar sees Card Spending Retail and Net Migration data.
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.