AUSSIE BONDS: Yield Curve Vulnerable To Rates Outlook
Nov-07 01:23
Unlike its New Zealand counterpart, which has steepened to its highest level since 2021, the ACGB yi...
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AUSSIE BONDS: Holding Richer On A Data-Light Day
Oct-08 01:15
ACGBs (YM +1.5 & XM +3.0) are holding modestly stronger in today’s data-light session.
- Cash US tsys are flat to 1bp cheaper, with a steepening bias, in today's Asia-Pac session after yesterday's modest rally.
- Cash ACGBs are 1-3bps richer with the AU-US 10-year yield differential at +23bps.
- The latest ACGB Mar-36 auction saw strong demand, with the weighted average yield coming in 0.22bps through prevailing mid-yields, according to Yieldbroker, continuing the trend of firm pricing at recent ACGB auctions. Moreover, the cover ratio nudged higher to 3.4917x from 3.3111x.
- Bidding at today’s auction faced an outright yield that was roughly 10-15bps higher than the previous auction level and about 20bps below the late February peak.
- The bills strip is flat to +2 across contracts.
- RBA-dated OIS pricing is little changed across meetings today. A 25bp rate cut in November is given a 40% probability, with a cumulative 14bps of easing priced by year-end.
RBNZ SEES PROLONGED SPARE CAPACITY, RISK TO INFLATION
Oct-08 01:06
- RBNZ SEES PROLONGED SPARE CAPACITY, RISK TO INFLATION
RBNZ SAYS IT REMAINS OPEN TO FURTHER CUTS
Oct-08 01:04
- RBNZ SAYS IT REMAINS OPEN TO FURTHER CUTS
