Free Trial

The soft internals evident in the......>

AUSSIE BONDS
AUSSIE BONDS: The soft internals evident in the latest round of Chinese trade
data drove bond futures to fresh intraday highs, after a very limited start to
the week. The move allowed the front contracts to clear their respective Friday
highs. YM & XM trade 3.0 higher with YM/XM at 51.0 and the cash 3-/10-Year yield
differential dealing at 48.0bp.
- The auction of a non-basket Bond was largely ignored.
- White and red Bills continue to hold flatter on the day, unchanged to 3 ticks
higher at writing, with the soft Chinese trade breakdown allowing the front end
of the strip to unwind its early (likely funding pressure related)
underperformance. Modest ticks higher noted in RBA repo op rates and the 3-Month
BBSW fix today. RBA reverse repo operations saw A$1.375bn worth of 21-Day ops
dealt at 2.046%, with A$1.046bn worth of 71-Day ops dealt at 2.041%.
- Lower tier AU data due this week, so broader risk themes including China,
Brexit & Fedspeak are likely to drive activity.
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.