Free Trial

Steepening Holds

AUSSIE BONDS

The early weakness in the long end of the ACGB curve that we touched on earlier has held, with AU/U.S. spread dynamics potentially at the fore there. YM runs -1.0, while XM is -5.5., while the longer end of the cash curve runs ~6bp cheaper, with a parallel shift observed in the 10+-Year zone. Bills run flat to 2bp cheaper through the reds.

  • There hasn’t been any overt headline flow to drive the space, with some light, futures flow-driven cheapening in U.S. Tsys coming after the move in ACGBs.
  • Domestic consumer inflation expectations data was steady in October, operating a little over 1ppt off of the cycle peak registered back in June.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.