AU government bonds are lower in yield by 1-2.5bps across the curve in Monday trading.
The 2-YR ACGB is at 3.51% this morning, following Friday's close of 3.53%. Last week the two year yield moved higher in the back end of the week, finishing +15bps for the week.
The 10-Yr ACGB is at 4.36% this morning having widened by +14bps last week.
Bond futures are mixed with the 10-Yr +0.01 at 95.59 and remains well below all major moving averages.
The 3-Yr is up +0.01 at 96.40 as it too remains below all major moving averages.
The RBA meets tomorrow with markets expecting no change and the cash rate to remain at 3.60%.
Other key data out is trade date for August, PMIs and September inflation.
NEW ZEALAND: Bonds Opening Marginally Better
Sep-28 23:35
NZ government bonds are opening the week marginally better, with yields out to 10-Yr lower by up to -0.5bps.
The 2-Yr has been very strong over late, dropping by -25bps in September and is currently at 2.74%.
The 10-Yr is starting the week off modestly better at 4.22, having been relatively steady around those levels last week.
For the week ahead we have already had out Filled Jobs SA MoM which was inline at +0.2%. ANZ Activity Outlook and Business Confidence is released as well as Building Permits MoM, Home Value and Commodity prices MoM.
The equity market is up modestly at the start of the week by 0.25%, taking it back to flat over the last five days of trading.