AUSSIE BONDS: Nov-29 Supply Goes Smoothly But With Less Demand
Jul-11 01:24
The latest ACGB Nov-29 auction was well-received, with pricing coming in comfortably through mids - ...
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AUSSIE BONDS: ACGB Nov-32 Auction Goes Smoothly But With Less Demand
Jun-11 01:23
Today’s auction reflected solid pricing for ACGBs, with the weighted average yield coming in 0.65bps below prevailing mid-yields, according to Yieldbroker. However, the cover ratio declined to 3.2100x from 3.4786x in the previous auction.
- The softening in demand at today’s auction came with the outright yield some 20bps lower than at the time of the previous auction, and roughly 60bps below the November 2024 peak.
- Souring sentiment toward global bonds over the past six weeks likely weighed on demand, as did the absence of this line from either the YM or XM baskets and its position in a less preferred segment of the curve.
- Post-auction, the cash line and XM have cheapened slightly.
MNI: CHINA PBOC CONDUCTS CNY164 BLN VIA 7-DAY REVERSE REPO WEDS
Jun-11 01:22
- CHINA PBOC CONDUCTS CNY164 BLN VIA 7-DAY REVERSE REPO WEDS
CNH: USD/CNY Fixing To Fresh Multi Month Lows, Error Term Flat
Jun-11 01:19
The USD/CNY fixing printed at 7.1815, in line with the BBG market consensus of 7.1815.
- Today's fixing is a fresh low back to early April.
- It should help keep upside USD/CNH pressures capped. Equally, the market will be looking for more detail around US-China trade talks, with earlier headlines stating the consensus reached at the Geneva meetings in May was agreed to by both sides.
- USD/CNH is a little lower in recent dealings, but at 7.1830 remains comfortably within recent ranges.
