MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1315 FRI VS 7.1285

MNI BRIEF: Fed's Bowman Wants A More Effective Discount Window

MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

Japan Jun Core CPI +2.6% Y/Y; Energy Price Up

MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

CLARIFY: JAPAN JUNE SERVICES PRICES +1.7% Y/Y; MAY +1.6%

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

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

Slightly Weaker Despite U.S. Tsy Lead

AUSSIE BONDS

ACGBs are slightly cheaper (YM -2.0 & XM -0.5) despite U.S. Tsy yields closing 8-11bp lower in trade ahead of the weekend after a downside miss for the core PCE deflator for February. After the bell, US STIR had priced a 63% chance of a 25bp hike in May.

  • Cash ACGBs are flat to 1bp cheaper with the 3/10 curve flatter and the AU-US 10-year yield differential +8bp at -17bp.
  • Swaps rates are flat to 1bp higher with the 3s10s curve 1bp flatter.
  • Bills strip pricing is -5 to -1 with the whites leading.
  • RBA dated OIS is flat to 3bp firmer across meetings with a 18% chance of a 25bp hike priced for tomorrow.
  • CoreLogic Capital City Aggregate house price data has printed +0.8% M/M, the first rise since April last year.
  • The local calendar is also scheduled to release today Dwelling Approvals (Feb), Housing Finance (Feb) and the Melbourne Institute Inflation Gauge (Mar).
  • The highlight of the week nonetheless will be the RBA Decision tomorrow with BBG consensus expecting a no-change outcome. In the March Meeting Minutes, the Board took the unusual step of agreeing to reconsider the case for a pause in April. The data on balance since, particularly retail sales data and the CPI monthly, have thrown weight behind a policy pause outcome this week.
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.