CNH: USD/CNY Fixing Bias Stays Close To Neutral
Sep-27 01:19
The USD/CNY fix printed at 7.0101, against a Bloomberg consensus of 7.0111.
- Today's result leaves a -10pip fixing error in USD/CNY terms, so still very close to neutral, which has been the case since Sep 19.
- USD/CNH is higher in the first part of dealing today, last near 6.9870, around 0.20% weaker in CNH terms.
- Focus is likely to rest on how USD/CNY spot performs, given it closed yesterday at 7.0111. Broader USD sentiment has been firmer in the first part of dealings.
- We also have industrial profits data coming up shortly.
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BOJ: Rinban Purchase Offer
Aug-28 01:12
The BoJ offers to buy a total of Y1.0tn of JGBs from the market:
- Y375bn worth of JGBs with 3-5 Years until maturity
- Y400bn worth of JGBs with 5-10 Years until maturity
- Y150bn worth of JGBs with 10-25 Years until maturity
- Y75bn worth of JGBs with 25+ Years until maturity
AUSSIE BONDS: ACGB Dec-34 Supply Digested But Less Demand Seen
Aug-28 01:07
Expectations of sustained strong pricing at auctions proved accurate, with the latest round of ACGB Dec-34 supply seeing the weighted average yield print 0.34bp through prevailing mids (per Yieldbroker).
- However, as flagged in our auction preview, the lower outright yield did appear to hamper the overall strength of bidding today, with the cover ratio declining to 2.3125x from 2.7375x in mid-August and 4.2250x at the June auction.
- The ACGB Dec-34 cash line and the XM futures contract are slightly stronger in post-auction dealings.
AUSSIE BONDS: ACGB Dec-34 Auction Result
Aug-28 01:03
The AOFM sells A$800mn of the 3.50% 21 December 2034 bond, issue #TB168:
- Average Yield (%): 3.9148 (prev. 3.9818)
- High Yield (%): 3.9175 (prev. 3.9850)
- Bid/Cover: 2.3125x (prev. 2.7375x)
- Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield (%): 38.8 (prev. 40.4)
- Bidders: 34 (prev. 39), 21 (prev. 21) successful, 14 (prev. 14) allocated in full
