- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.LATEST FROM POLICY:
- G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.Launch MNI PodcastsFixed Income FI Market AnalysisCentral Bank PreviewsFI PiEurozone/UK Bond Auction CalendarEurozone/UK T-bill Auction CalendarUS Treasury Auction Calendar US$ Credit Supply Pipeline Fixed Income Technical Analysis EGB Issuance, Redemption and Cash Flow Matrix Gilt Week Ahead
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.LATEST FROM DATA:
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.Global Macro Central Bank PreviewsCentral Bank ReviewsBalance Sheet AnalysisInflation InsightGlobal IssuanceEurozoneUKUSOverviewGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction Calendar
- About Us
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
MNI: PBOC Net Drains CNY11 Bln Via OMOs Wednesday
MNI: PBOC Yuan Parity Higher At 7.1196 Wednesday; -6.10% Y/Y
NZGBS: Mid-Session Reversal On Aussie Data
NZGBs reversed morning weakness in line with the post-data rally in ACGBs. Trans-Tasman downside surprises in Q4 GDP and more importantly, monthly CPI, sparked a short-end led rally in ACGBs as it threw weight behind the RBA’s forecast that inflation peaked in Q422. NZGBs followed suit with yields 4-5bp lower at the close, versus 4-5bp higher in early trade. The 2/10 cash curve was 1bp steeper. There was no real reaction to firmer than expected Chinese PMI data.
- NZGBs added to yesterday’s outperformance versus U.S. Tsys with the NZ/US cash yield differential narrowing 9bp for the 2-year and 5bp for the 10-year. The NZ-AU 10-year differential did however widen 3bp, unwinding yesterday’s narrowing.
- Swaps close 4-7bp lower, implying a slight narrowing in swap spreads, with the 2s10s curve 1bp flatter.
- RBNZ dated OIS ignored trans-Tasman moves to close a little firmer across meetings. April meeting pricing remains at 38bp of tightening with terminal OCR pricing back close to the RBNZ’s projected OCR peak of 5.50% at 5.47%.
- Today's local data was weak. CoreLogic’s house price index sank -8.9% Y/Y, the steepest annual decline since 2009, while January Building Permits recorded another M/M fall. Some rebound had been expected after the sharp decline in multi-unit consents in December. Today’s data pre-dated much of the recent severe weather.
- Elsewhere, the Treasury announced the appointment of JLMs for the syndication of the new May-30 NZGB, with expectations for the launch to take place next week, subject to market conditions.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof 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.