AUSSIE BONDS: AOFM Weekly Issuance Slate
Jul-22 02:03
The AOFM has released its weekly issuance slate:
- On Monday 25 July it plans to sell A$300mn of the 3.00% 21 March 2047Bond.
- On Thursday 28 July it plans to sell A$1.0bn of the 9 September 2022 Note & A$1.0bn of the 11 November 2022 Note.
- On Friday 29 July it plans to sell A$1.0bn of the 3.00% 21 November 2033 Bond.
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US TSYS: Light Bid Seen
Jun-22 01:40
TYU2 has pushed higher to deal +0-09+ at 116-02+ at typing, operating 0-01+ shy of best levels (and Tuesday’s session high as well) amidst a continued lack of notable macro headline flow.
- The move higher comes amidst a downtick in major crude benchmarks and U.S. e-mini futures, with some spillover evident from a bid in Aussie bonds and defensively-tilted flows observed in the G10 FX space.
- Cash Tsys run flat to 1.5bp richer across the curve, with the belly leading the bid.
RBA: Appointment: Brad Jones as Assistant Governor, Financial System Group
Jun-22 01:33
Dr Bradley Jones has been appointed to the position of Assistant Governor, Financial System Group at the Reserve Bank of Australia.
CNH: CNY Fixing Weaker Than Expected
Jun-22 01:27
The USD/CNY fixing printed at 6.7109, versus a market estimate of 6.7082.
- In USD/CNY terms this represented a +27pip upside surprise. This is a departure from recent sessions, which have tended to see downside surprises.
- Indeed, we have to go back to the 20th of April to see a larger upside surprise.
- The 5-day sum of the cumulative error term sits back close to flat at -12 pips, we were -45pips on this metric yesterday.
- USD/CNH has firmed a little post the fix, rising above 6.7030. Recent highs above 6.7200 have drawn selling interest in terms of upside levels to be mindful of.
- CNH/JPY is off recent highs of 20.43, last at 20.32. The weaker yen trend may have be playing a role, in the sense the authorities are mindful of the yen slide and its impact on China export competitiveness, albeit at the margin.
