AUSTRALIA DATA: Little Change To Inflation Rates In January
Feb-26 00:33
January headline CPI inflation printed lower than expected at 2.5% y/y, in line with December. However, the underlying trimmed mean rose 0.1pp to 2.8%, but still below the top of the RBA’s 2-3% band. The first month of the quarter has limited updates for services inflation. More details to follow but see ABS press release here.
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US TSYS: Cash Bonds Open Richer After The Weekend’s Tariff News
Jan-27 00:21
TYH5 is dealing at 108-19+, +0-04+ from NY closing levels, in today’s Asia-Pac session.
- US stock futures are dealing lower ahead of key earnings week, with the S&P 500 and the Nasdaq down ~0.50%.
- “In a social media post on Sunday, Trump said he ordered an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week. Oil, gold, coffee and flowers top the list of exports, according to Colombia’s tax authorities.” (per BBG)
- Cash bonds are dealing 1-3bps richer in today’s Asia-Pac session, with a flattening bias, after finishing Friday mildly stronger.
- Focus this week is the FOMC policy announcement on Wednesday.
GOLD: Gold Opens Cautiously in Asia As Tariff Risk Heightens.
Jan-27 00:05
- Gold has had a stellar start to 2025 and last week delivered the best weekly gains thus far.
- Gold gained +2.4% last week driven by a ‘safe-haven’ bid in the face of mounting tariff risks.
- This week has started no differently with news that President Trump intends to levy up to 25% tariffs on Colombia following the turning away of a flight from the US, deporting illegal immigrants.
- Gold closed Friday at US$2,770.58 and has given some of that back in early trading, down to $2,767.00
- Over the weekend Ghana’s released it’s trade surplus details, rising US$5bn, driven by a 50% increase in gold exports to $11.6bn.
ASIA: Government Bond Issuance Today.
Jan-26 23:46
- Thailand to Sell 40 Billion Thb of 182-Days Bills
- MAS to Sell S$15.9 Billion 25-Day Bills
- MAS to Sell S$22.5 Billion 83-Day Bills
- Philippines To Sell PHP 7.0Bln 90D Bills (PH0000058463)
- Philippines To Sell PHP 7.0Bln 181D Bills (PH0000058935)
- Philippines To Sell PHP 8.0Bln 363D Bills (PH0000059818)
- Bank of Korea to Sell 1 Trillion Won 91-Day Bonds
