Free Trial
USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Northbound

US TSYS

Late SOFR/Eurodollar/Treasury Option Roundup

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

NZGBS: Outperformance Noted, Index Inclusion Eyed

BONDS

NZGBs richened on Friday, outperforming their major global counterparts, with focus on next month’s WGBI index inclusion seemingly at the fore.

  • An element of short covering ahead of the long NZ weekend may also have been in play, with NZ markets closed on Monday as the country observes the Labor Day holiday.
  • Note that a move lower in core global FI markets (higher yields) came after the local close.
  • Swap spreads were generally a little wider across the curve, with some receiver side flows in swaps probably helping the bid in NZGBs in the second half of the day.
  • RBNZ dated OIS continue to price a terminal rate of just over 5.40%.
  • Local data had little impact on the space, with a marginal monthly uptick in credit card spending observed, while Sep trade balance data revealed a fourth consecutive monthly trade deficit, albeit narrowing a touch from the record deficit witnessed in August.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.