CANADA MAY CPI +2.9% YOY VS FORECAST +2.6%, PRIOR 2.7%

MNI: Bowman Warns Of Fed Divergence With Other Central Banks

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

MNI China Daily Summary: Tuesday, June 25

MNI: US CONF BOARD CONSUMER CONFIDENCE 100.4 IN JUN V MAY 101.3

MNI:US APR FHFA HPI SA +0.2% V +0.0% MAR; +6.3% Y/Y

MNI: US REDBOOK: JUN STORE SALES +5.6% V YR AGO MO

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZGBS: Subdued Trading, Narrow Range Ahead Of Tomorrow’s Events In AU & US

BONDS

NZGBs closed slightly cheaper with benchmark yields 2bp higher after trading in a narrow range in the local session. Without domestic drivers, local participants have content to be guided by headlines, US tsys and ACGBs ahead of tomorrow’s Q2 CPI release in Australia and FOMC policy decision.

  • US tsys are dealing flat to 2bp richer in the Asia-Pac session with the curve steeper.
  • NZ/US and NZ/AU 10-year yield differentials are both 1bp wider on the day at respectively +75bp and +61bp.
  • Swap rates are flat to 1bp lower with the 2s10s curve steeper.
  • RBNZ dated OIS pricing is flat to 4bp softer across meetings with Jul’24 leading. Terminal OCR expectations sit at 5.67% versus 5.70% late last week.
  • NZ’s heavy traffic index fell 1% m/m in June but rose 0.4% in Q2. This suggests low but positive GDP growth in Q2, according to ANZ Bank.
  • Tomorrow the local calendar is empty. The next key release is ANZ Consumer Confidence (Jul) on Friday.
  • Later today, US House Prices, Consumer Confidence and Richmond Fed Mfg Index are due. 5-Year supply is also scheduled.
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.