MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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 Weaker Near Morning Cheaps

BONDS

NZGBs closed near session cheaps with benchmark yields 6-9bp higher and the 2/10 cash curve 3bp flatter. With no local data or meaningful local news flow, the NZGB market basically held near opening levels following the weaker lead-in from US tsys after solid non-farm payrolls data on Friday. NZ/US and NZ/AU 10-year yield differential both closed 1bp wider at respectively +72bp and +76bp.

  • Swap rates closed 5-6bp higher with implied short-end swap spreads tighter.
  • RBNZ dated OIS closed with pricing 1-6bp firmer across meetings with Apr’24 leading. 24bp of tightening is priced for the May 24 meeting.
  • The local calendar is scheduled to release Retail Card Spending data for April tomorrow with a continued shift towards services expected.
  • In Australia, Treasurer Chalmers is slated to hand down his first Federal Budget tomorrow. If it turns out to be significantly expansionary then RBA rate expectations may be affected.
  • Further afield, the calendar is relatively light ahead of Wednesday’s release of US CPI for April.
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.