AUSSIE BONDS: 3yr ACGB Yield Above RBA Cash Rate, 10yr +8bps Post US Fed

Gold rose strongly on Monday driven by safe-haven flows as the US debt ceiling impasse remained unresolved. Prices were up 2% to $3833.55/oz to be over 11% higher in September with a new record high of $3834.2 achieved, exceeding a number of resistance levels. It was also supported by a softer US dollar (BBDXY -0.2%) and slightly lower Treasury yields. Bullion is currently around $3828.7.

• Gold broke above resistance at $3818.5 and $3831.4 opening up round number support at $3900. Initial support is at $3717.6, 24 September low.
• The key data this week for the Fed outlook is Friday’s payrolls but a US shutdown could delay data releases. Also Fed comments remain important with members today showing differing opinions but also caution towards the degree of easing.
• Silver was also strong rising 1.8% to $46.93 to be over 18% higher this month. It reached a peak of $47.18, just below initial resistance at $47.251. The metal is currently around $46.75. Tightness in the physical market as well as ETF flows have boosted silver prices, according to Bloomberg.
• Equities were moderately higher with the S&P up 0.3% and Euro Stoxx +0.1%. The S&P e-mini is slightly lower so far today. Oil prices fell sharply with Brent -3.5% to $67.65/bbl. Copper rose 2.8%.

• South Korea to Sell KRW4.4tn 30-Year Bonds
• Hong Kong to Sell HK$68.384 Billion 90-Day Bills
• Hong Kong to Sell HK$20 Billion 181-Day Bills
• Bank of Thailand to Sell THB65bn of 96-Days Bills
• Bank Indonesia to Sell 92D SVBI Bills
• Bank Indonesia to Sell 32D SVBI Bills
• Bank Indonesia to Sell 182D SVBI Bills
• Bank Indonesia to Sell 273D SVBI Bills
• Bank Indonesia to Sell 365D SVBI Bills
• MAS to Sell S$1.8 Billion 252-Day Bills on Sept. 30
• MAS to Sell S$22.2 Billion 85-Day Bills on Sept. 30
• MAS to Sell S$14.6 Billion 28-Day Bills on Sept. 30
• Indonesia To Sell 2029 Sukuk Bonds (PBSG001)
• Indonesia To Sell 2028 Sukuk Bonds (PBS030)
• Indonesia To Sell 2027 Sukuk Bonds (PBS003)
• Indonesia To Sell 2049 Sukuk Bonds (PBS038)
• Indonesia To Sell 2039 Sukuk Bonds (PBS034)
• Indonesia To Sell 242D Sukuk Bills (SPNS01062026)
• Indonesia To Sell 158D Sukuk Bills (SPNS09032026)

source:  Bloomberg Finance LP / MNI