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

NZGBS: Slightly Weaker, US Tsy 10-year Yield Higher

BONDS

NZGBs opened 3bp weaker with the 2/10 curve little changed. US Tsy 10-yield was 5bp higher despite the generally risk-off tone in the markets. Trading desks cited US Government’s unwillingness to intervene on First Republic for a mid-session cheapening in US Tsys. The relatively tight range in NY may reflect an unwillingness of market participants to position aggressively ahead of PCE deflator data on Friday.

  • Swap rates opened 3bp higher with implied swap spreads unchanged.
  • RBNZ dated OIS opened unchanged across meetings with 19bp of tightening priced for the May meeting. Terminal OCR expectations sit at 5.48%.
  • The ANZ Business Outlook is slated for release today with the survey likely to show overall business conditions remaining weak. Inflation expectations and pricing will attract the market’s attention as it seeks confirmation that inflation has peaked.
  • In Australia, Export and Import Prices are slated for release.
  • Further afield, China's March Industrial Profits are due for release ahead of Q1 US GDP.
  • The NZ Treasury plans to sell NZ$200mn of the 0.25% 15 May 2028 bond, NZ$150mn of the 3.50% 14 April 2033 bond and NZ$50mn of the 2.75% 15 May 2051 bond.
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.