MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

Sitting Cheaper, Trade Data Fails To Move Market

AUSSIE BONDS

ACGBs are sitting cheaper on the day (YM -16.0 & XM -15.5) after April trade data prints a smaller than expected surplus, A$11.16bn versus A$13.65bn est. Exports fall 5.0% m/m, while imports rise 2.0% m/m. There has been little net movement since the data release.

  • Cash ACGBs are just off session cheaps, 15-16bp weaker, with the AU-US 10-year yield differential 4bp higher at +19bp. The 3-year yield reaches 3.83%, its highest level since 2011.
  • Swap rates are 15-16bp higher on the day with EFP little changed.
  • The bills strip continues to bear steepen with pricing -2 to -19.
  • RBA dated OIS are 5-21bp firmer for meetings beyond July, with February’24 leading.
  • Bloomberg reports that Japanese investors bought the most Australian sovereign debt since 2021 in April while selling a net ¥2.01 trillion ($14.4 billion) of US sovereign bonds, according to Tsuyoshi Ueno, a senior economist at NLI Research Institute. (link)
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.