- Home
- Policy
- G10 Markets
- Emerging Markets
- Commodities
- Data
- MNI Research
- About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- Data
- MNI Research
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessSharply Cheaper after RBA Surprises With A 25bp Hike
ACGBs sit sharply lower (YM -21.0 & XM -12.5), after the RBA surprises the market with a 25bp rate hike. Moreover, in the final paragraph of the decision statement, the RBA noted that “Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe…”.
- Market pricing had supported BBG consensus of no change outcome with only a 14% chance of a 25bp rate hike priced. At the time of writing, 3-year and 10-year futures were as much as 22bp and 14bp lower respectively.
- RBA dated OIS has shunted 22-32bp higher across meetings.
- Cash ACGBs are 11-18bp higher after the decision with the AU-US 10-year yield differential +10bp at -8bp.
- Swap rates are 12-19bp after the decision with the 3s10s curve 7bp flatter.
- The bills strip bear flattens with pricing -25 to -13 after the decision.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.