-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessTrending Top 5
Market News Topics
August 03, 2021 04:38 GMT
Strong Bids At Auction For Indonesia
ASIA RATES
- INDIA: Yields lower in early trade. Bonds spent the session treading water on Monday, markets shaking off the weak auction from Friday and choosing to focus instead on rising GST collections and a pickup in PMI figures. Markit India manufacturing PMI rose to 55.3 in July, up from 48.1 in June, helped by lower coronavirus case numbers. Elsewhere there were reports that India's plan to sell two state-controlled lenders could be deferred to next financial year, the government is yet to seek parliament's approval for law changes needed for the sale to go ahead. Markets await services PMI data tomorrow but focus remains on the RBI rate announcement later in the week. Bond traders will also watch today's INR 125bn state debt sale.
- SOUTH KOREA: Futures are higher, jumping after a sharp decline into the close on Monday. Data earlier showed CPI rose above estimates, Core CPI rose 1.7% Y/Y, above the 1.5% estimates while headline CPI rose 2.6% against a 2.4% consensus. Inflation above the Bank of Korea's 2% target for the third month in a row, but this expected to have little effect on short end bonds with the rate hike already priced in. Markets will look to the BoK minutes later in the session for any clues as to how the fourth wave of coronavirus has affected the outlook and opinions of BoK members.
- CHINA: After hitting fresh contract highs yesterday futures are lower today, yields also higher after declines in Monday's session. The 10-Year yield fell to 2.8% on Monday, the lowest in over 12 months, as concerns over coronavirus cases combined with expectations of further easing measures from China. Bonds have gained for seven weeks in a row, the longest since the start of the US-China trade war in 2018. Meanwhile repo rates are slightly higher but within yesterday's ranges. The overnight repo rate is at 1.8167% while the 7-day repo rate is at 1.90%. The PBOC injected CNY 10bn, matching maturities with injections.
- INDONESIA: Yields mostly higher but off session highs after strong bids at the bond sale. There were said to be bids for IDR 107.8tn against a target of IDR 22tn at the sale of 2032, 2036, 2042 and 2051 paper. Elsewhere, Indonesia extended its emergency curbs on mobility through Aug 9, with the strictest rules set to be left in place in major Javanese cities, including Jakarta. Min Luhut Panjaitan who coordinates emergency Covid-19 measures said that "confirmed cases, positivity rate and deaths are still high in areas such as Bali, Malang, Yogyakarta and Solo," but also noted that restrictions would be relaxed gradually by the end of the month.
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok