MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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: Weaker, Mid-Range, US Earnings Eyed

BONDS

NZGBs closed with yields flat to 4bp higher but off session cheaps as Asia-Pac participants digested the negative lead from US Tsy ahead of the weekend. NZGBs outperformed the $-Bloc with the NZ/US and NZ/AU 10-year yield differentials respectively -7bp and -4bp.

  • Swap rates closed 3-6bp higher, implying wider swap spreads, with the 2s10s curve 3bp flatter.
  • RBNZ dated OIS closed with pricing 1-5bp firmer across meetings with Apr-24 leading. 20bp of tightening priced for May with 25bp of easing priced for Nov-23 off a terminal OCR expectation of 5.49% (July).
  • The Performance Services Index fell 1.4pts in March but remained in expansion territory. Activity/Sales component rose 2.8pts but New Orders fell 3.2pts. Food Prices rose 0.8% M/M (+12.1% Y/Y) with weather-impacted fruit & vegetables and grocery food as the key drivers.
  • March REINZ house sales and price data are scheduled for release tomorrow ahead of Q1 CPI on Thursday.
  • In Australia, the RBA Minutes for April are slated for release tomorrow.
  • With the US calendar relatively this week, the market will be eyeing US Tsys reaction to US earning season and Fedspeak. US Tsy yields were guided higher ahead of the weekend in part due to higher-than-expected large bank earnings.
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.