Free Trial

Tight Ranges, AOFM Supply Applies Light Pressure


The pricing of the A$6.0bn tap of ACGB May '41 in Australia applied some light pressure to both U.S. Tsys and Aussie paper during Asia-Pac hours, with little in the way of broader macro headline flow to note.

  • T-Notes trade -0-01+ at 137-31+ last, with the contract operating within a 0-05+ range. The cash curve has seen some light twist steepening on the back of the aforementioned ACGB pricing, after light bull flattening was seen on the relatively limited downtick in e-minis during early Asia dealing.
  • The Aussie futures curve holds steeper on the back of the aforementioned ACGB pricing from the AOFM, with YM -1.5 and XM -6.0. Cash trade sees underperformance for the 10-15 Year sector,
  • JGB futures have held to a narrow range in Tokyo dealing, last -1, with the highlight there being the latest round of BoJ Rinban ops covering 1-10 Year JGBs. The size of the purchases across that zone of the curve remained unchanged, with little in the way of notable movements in the offer/cover ratios.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.