ASIA: Coming Up In Asia Pac Markets Thursday

May-28 21:09
2210BST0510HKT0710AESTRBNZ Governor Before Parliament 
0050BST0750HKT0950AESTJapan Offshore Weekly Inv Flows
0200BST0900HKT1100AESTNew Zealand May ANZ Business Confidence
0210BST0910HKT1110AESTBoJ Bond Purchases
0230BST0930HKT1130AESTAustralia Q1 Capex
0335BST1035HKT1235AESTNew Zealand Bond Sale, 2030, 2036
0600BST1300HKT1500AESTJapan May Consumer Confidence

Historical bullets

ASIA: Coming Up In Asia Pac Markets On Tuesday

Apr-28 21:06
2345BST0645HKT0845AESTNew Zealand Mar Filled Jobs
0001BST0701HKT0901AESTUK Apr BRC Shop Price Index
0300BST1000HKT1200AESTSouth Korea Mar Retail Sales
0305BST1005HKT1205AESTRBA Assistant Governor Kent Speech

LOOK AHEAD: Tuesday Data Calendar: Inventories, House Prices, JOLTS Job Openings

Apr-28 20:12
  • US Data/Speaker Calendar (prior, estimate)
  • 29-Apr 0830 Advance Goods Trade Balance (-$147.8B rev, -$143.0B)
  • 29-Apr 0830 Wholesale Inventories MoM (0.3%, 0.7%), Retail MoM (0.1%, 0.3%)
  • 29-Apr 0900 FHFA House Price Index MoM (0.2%, 0.3%)
  • 29-Apr 0900 S&P CoreLogic CS 20-City MoM SA (0.46%, 0.35%)
  • 29-Apr 1000 JOLTS Job Openings (7.568M, 7.5M), Rate (4.5%, --)
  • 29-Apr 1000 Conf. Board Consumer Confidence (92.9, 87.6)
  • 29-Apr 1030 Dallas Fed Services Activity (-11.3, --)
  • 29-Apr 1130 US Tsy $70B 6W bill auction

US TSYS: Near Late Highs, Curves Bull Steepening, Borrow Estimates Rising

Apr-28 20:10
  • Treasuries look to finish near late session highs Monday, curves bull steepening (2s10s +4.412 at 52.737) after decent front end buying in 5s and 2s10s steepener blocks/crosses.
  • Jun'25 10Y futures breach resistance at 111-25 (50.0% retracement of the Apr 7 - 11 bear leg) to 111-30.5 high (+14), focus on next resistance at 112-12 (61.8% retracement of the Apr 7 - 11 bear leg).
  • Underlying bid as Dallas Fed's Texas Manufacturing Survey for April -- the weakest since the start of the Covid pandemic in 2020, as tariff uncertainty weighed heavily on manufacturers in the district while price pressures remained elevated.
  • Meanwhile Treasury's latest borrowing / financing requirements estimates were slightly higher - but broadly in line with - MNI's estimates: $514B for the Apr-Jun quarter, and $554B for the Jul-Sep quarter.
  • A lack of concrete details surrounding the US administration’s progress on trade deals has allowed the broader dollar weakening trend to resume, Bbg US$ index at 1219.81 (-6.24) after the bell.