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JGBS AUCTION

Japanese MOF sells Y4.7714tn 3-Month Bills:

JGBS AUCTION

PREVIEW: 20-Year JGB Supply Due

AUSSIE BONDS

Coiling Ahead Of The Weekend

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AUSSIE BONDS
AUSSIE BONDS: Participants looked through the latest batch of hard data and
surveys, with XM initially supported by the dynamics in U.S. Tsy futures, and
later by the RBA's choice to purchase ACGBs maturing Apr '27 - Nov '28 (after
Thursday's hiatus), leaving the curve a touch flatter on the day. There was also
a strong auction for A$1.5bn worth of ACGB 3.25% 21 Apr 2025.
- YM last +0.5, XM +3.5, with the latter just off best levels, perhaps limited
by the lack of follow through in USD/CNH above CNH7.1500 and downtick from best
levels for T-Notes.
- In terms of the aforementioned data, building approvals provided a beat vs.
exp, while ANZ job ads and the latest ABS business survey on the impact of
COVID-19 providing predictably sombre reading.
- Bills sit +1 to -1 through the reds.
- Overnight cash rate fixed unchanged at 0.14%, with cash surpluses on ES
accounts lodged at the RBA ticking lower to ~A$60bn.
- The latest RBA monetary policy decision headlines tomorrow (our full preview
will go out in the European morning).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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