Free Trial

Supported, But Lacking Real Upward Impetus

AUSSIE BONDS

Aussie bonds stuck to a narrow range, failing to really kick on in early Sydney trade, even with short snap COVID restrictions coming into play in the greater Sydney area (on the back of a couple of COVID cases being found in the last 48 hours). Later in the day we saw headlines note that China's NDRC has halted activities under the China-Australia economic dialogue indefinitely. Still, some local participants and some experts in the field have equated the impact of the cessation of the discussions to 0, with the AUD unwinding a portion of its knee-jerk move lower, while ACGBs were limited in terms of their reaction to the news. The latest round of scheduled RBA ACGB purchases was another supportive factor. YM +0.5 & XM +4.0 on the day at typing.

  • An address from RBA Deputy Governor Debelle headlines the local docket today with the topic of "Monetary Policy during Covid," but it doesn't hit until 19:00 Sydney, 10:00 London. Tomorrow's local docket is headlined by the release of the RBA's SoMP, A$800mn of ACGB 0.25% 21 November 2024 supply and the release of the AOFM's weekly issuance slate.
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.