Free Trial

The 3-Year Aussie Bond was last up 2...>

AUSSIE BONDS
AUSSIE BONDS: The 3-Year Aussie Bond was last up 2 ticks at 97.900 and the
10-Year contract was last up 4 ticks at 97.250 rallying to levels last seen mid
September taking a bid alongside Tsys overnight as the U.S. Yield curve
flattened. 
- Aussie yields are lower, outperforming on the superlong and long end following
yesterday's 30-Year syndication, at face value the issue was worth A$2.1bln and
took A$4.5bln bids at the final clearing price compared to a year ago when the
line was first issued which was worth $7.6bln with bids amounting to A$13.8bln.
the 3-/10-Year spread last at 2.2bp.
- Yesterday saw dovish comments from the RBA, they said the timing of changes in
rates domestically will be dependent on changes in domestic conditions and today
Australia's Leading Index pointed towards below trend growth for the second
straight month. MNI said 'this suggests forecasts for the economy in the August
Statement on Monetary Policy are on the optimistic side.' 
- Tomorrow brings Aus labour data, long awaited for signs of any pick up in the
economy. It also bring the only Aussie auction of the week in 126-Day Bills.

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.