MNI BRIEF:NGEU To Lift Growth Less Than Expected -ECB Bulletin

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI BRIEF: EZ Short-Term Uncertainty Low, Long-Term High -ECB

MNI China Daily Summary: Wednesday, January 8

MNI: PBOC Net Injects CNY1.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1887 Weds; -2.33% Y/Y

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

EZ/UK Bond Supply Calendar: Portugal Syndication "Nr future"

US EIA:NAT GAS STORAGE -40 BCF TO 3,373 BCF JAN 03 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUSSIE BONDS: Richer On Last Trading Day Of The Year

AUSSIE BONDS
BulletAPACFixed Income BulletsAustraliaMarkets

ACGBs (YM +4.0 & XM +5.0) are richer following a strong session for US tsys.  

  • US tsys finished near session bests on Monday following much weaker than expected Chicago PMI data. Chicago Business Barometer™, produced with MNI slipped 3.3 points to 36.9 in December. This is the third consecutive monthly decline, with the index at its lowest since May 2024, and below the 2024 average.
  • Tuesday data (prior, est) includes FHFA House Price Index MoM (0.7%, 0.4%) and S&P CoreLogic CS 20-City MoM SA (0.18%, 0.20%) at 0900ET, Dallas Fed Services Activity (9.8, --) at 1030ET.
  • Reminder there is no cash dealing in US tsys today with Japan out for a bank holiday.
  • Today, the local calendar is empty. The next data releases are CoreLogic Home Value and S&P Global PMI Mfg on January 2.
  • The local market will close at 14:10 AEDT today.
  • Cash ACGBs are 4-6bps richer with the AU-US 10-year yield differential at -13bps.
  • Swap rates are 4-7bps lower, with the 3s10s curve flatter.
  • The bills strip is stronger, with contracts +1 to +3.
  • RBA-dated OIS pricing is 1-4bps softer across meetings, with late 2025 leading. A 25bps rate cut is more than fully priced by April (130%), with a 63% probability of a February cut. 
205 words

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.

ACGBs (YM +4.0 & XM +5.0) are richer following a strong session for US tsys.  

  • US tsys finished near session bests on Monday following much weaker than expected Chicago PMI data. Chicago Business Barometer™, produced with MNI slipped 3.3 points to 36.9 in December. This is the third consecutive monthly decline, with the index at its lowest since May 2024, and below the 2024 average.
  • Tuesday data (prior, est) includes FHFA House Price Index MoM (0.7%, 0.4%) and S&P CoreLogic CS 20-City MoM SA (0.18%, 0.20%) at 0900ET, Dallas Fed Services Activity (9.8, --) at 1030ET.
  • Reminder there is no cash dealing in US tsys today with Japan out for a bank holiday.
  • Today, the local calendar is empty. The next data releases are CoreLogic Home Value and S&P Global PMI Mfg on January 2.
  • The local market will close at 14:10 AEDT today.
  • Cash ACGBs are 4-6bps richer with the AU-US 10-year yield differential at -13bps.
  • Swap rates are 4-7bps lower, with the 3s10s curve flatter.
  • The bills strip is stronger, with contracts +1 to +3.
  • RBA-dated OIS pricing is 1-4bps softer across meetings, with late 2025 leading. A 25bps rate cut is more than fully priced by April (130%), with a 63% probability of a February cut.