Free Trial

Speculation surrounding and the........>

BOND SUMMARY: Speculation surrounding and the ultimate level of the USD/CNY fix
from the PBoC, which came in a whisker below the psychological CNY7.00 mark,
supported global core fixed income in Asia-Pacific hours.
- T-Notes last deal +0-15 at 130-07+, with the yield curve as touch flatter as
the long end modestly outperforms. Decent buying of USU9 164.00 and 164.50 calls
was flagged in early Asia trade. Eurodollar futures deal 2.0-5.5 ticks higher
through the reds.
- JGB futures were supported by the broader flows, which allowed them to extend
on their overnight recovery, although the contract failed to challenge the
recent all-time high, and last deals 19 ticks higher than settlement. The cash
curve witnessed some modest bull flattening.
- Aussie bonds drew further support from monetary policy goings on across the
Tasman as the RBNZ delivered a shock 50bp cut to its OCR, with further dialogue
surrounding work on extraordinary monetary policy measures noted. YM +6.0, XM
+9.0, leaving YM/XM flatter at 33.5. Bills deal 5-6bp higher through the reds.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.