MNI BRIEF: One-Year Consumer Inflation Expectations Slow- ECB

MNI BRIEF: Yen Not Affecting Underlying Inflation - BOJ's Ueda

MNI BRIEF: BOJ Sees Risks To Prices In FY25, FY26 Balanced

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 3%

IFO Employment: Overall Softening, Services Stronger

France Consumer Sentiment Remains in Recent Range

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Softer With U.S Tsys

AUSSIE BONDS

Ahead of the March futures close midday AEST ACGBs are cheaper (YM -5.6 & XM -5.0) as the U.S Tsy curve was marked lower in NY trade. Little reaction to February CPI data which came in slightly higher but with core services ex OER accelerating. U.S Tsy 2-year yield was +26bp and the 10-year +10bp on the day but still respectively 85bp and 40bp below their peaks last week. Cash ACGBs open 4-5bp weaker with the 3/10 curve 1bp flatter. AU/US 10-year yield differential is 9bp wider at -21bp.

  • A similar move for swaps with rates 4-5bp higher with EFPs unchanged.
  • Bills strip bear flattens with pricing 3-8bp cheaper.
  • In a significant development yesterday when RBA dated OIS priced an end to the tightening cycle with a 25bp easing by the RBA by end-23 priced at one stage. At the open pricing is 5-11bp firmer across meetings with April back pricing in a 20% chance of a 25bp hike.
  • The local calendar is light today ahead of the all-important Employment Report tomorrow.
  • Elsewhere, China is slated to announce the 1-year MT lending rate along with a raft of monthly (Jan/Feb) releases including Retail Sales and Industrial Production ahead of US PPI and Retail Sales for February tonight.
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.