AUSSIE BONDS: Nov-29 Supply Goes Smoothly With More Demand
Aug-15 01:26
The latest ACGB Nov-29 auction was well-received, with pricing coming in comfortably through mids — the weighted average yield was 0.46bp below prevailing mid-yields, according to Yieldbroker.
- Moreover, the cover ratio increased to 3.69x from 3.4600x.
- The number of successful bidders fell notably to 8 from 19 previously — highlighting more concentrated demand.
- As highlighted in the MNI Auction Preview, the auction cleared smoothly with an outright yield around 10bps lower than the previous auction and roughly 85bps below the November 2024 peak of 4.32%.
- Moreover, the 3/10 yield curve sat around 20bps below its recent high.
- In post-auction trading, the Nov-29 line and YM are little changed.
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CHINA: Central Bank Injects CNY444.6bn via OMO
Jul-16 01:24
- The PBOC issued CNY520.1 bn of 7-day reverse repo at 1.4% during this morning's operations.
- Today's maturities CNY75.5 bn
- Net liquidity injection CNY444.6bn.
- The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
- The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.42%, from prior close of 1.56%.
- The China overnight interbank repo rate is at 1.45%, from the prior close of 1.30%.
- The China 7-day interbank repo rate is at 1.50%, from the prior close of 1.57%.
AUSSIE BONDS: Smooth Digestion Of Mar-36 Supply With Stronger Demand
Jul-16 01:24
The latest ACGB Mar-36 auction saw adequate demand, with the weighted average yield coming in 0.41bps through prevailing mid-yields, according to Yieldbroker, continuing the trend of firm pricing at recent ACGB auctions.
- However, the cover ratio rebounded to a solid 4.45x from 2.5792x.
- As highlighted in our preview, bidding at today’s auction faced an outright yield that was 10-15bps higher than the previous auction level and about 10bps below the late February peak.
- However, the 3/10 yield curve was slightly flatter than the previous auction level and sits around 20bps flatter than its recent high.
- Global sentiment toward bonds has also deteriorated recently, providing a less than favourable backdrop for today’s issuance.
- Early post-auction trading of both XM futures and the bond line is modestly richer.
MNI: CHINA PBOC CONDUCTS CNY520.1 BLN VIA 7-DAY REVERSE REPO WEDS
Jul-16 01:23
- CHINA PBOC CONDUCTS CNY520.1 BLN VIA 7-DAY REVERSE REPO WEDS
