CNH: USD/CNY Fixing Fresh High Back To Nov 2023
Jul-24 01:19
The USD/CNY fixing printed at 7.1358, versus the Bloomberg consensus of 7.2770.
- Today's outcome is a fresh high back to November last year. The fixing error was little changed, -1412pips in USD/CNY terms.
- The upside limit on USD/CNY spot is 7.2785, so not too far from where onshore spot ended yesterday (7.2748).
- USD/CNH is slightly higher post the fixing outcome, last near 7.2890.
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AUSSIE BONDS: Apr-29 Supply Goes Smoothly, But Less Demand Present
Jun-24 01:18
Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.64bps below the prevailing mid-yields, according to Yieldbroker. However, the cover ratio was lower at 3.4667x versus 4.1250x at the previous outing.
- Today’s results should be deemed solid given the potential negative influences on the bid. As outlined in our preview, today’s bid was confronted by a more hawkish than expected RBA at last Tuesday’s meeting and the fact that the line sits in a less preferred area of the curve.
- Post-auction, the ACGB Apr-29 cash trade, YM and XM have shown little change.
BOJ: Rinban Purchases
Jun-24 01:13
The BoJ offers to buy a total of Y1.225tn of JGBs from the market:
- Y375bn worth of JGBs with 1-3 Years until maturity
- Y425bn worth of JGBs with 3-5 Years until maturity
- Y425bn worth of JGBs with 5-10 Years until maturity
AUSSIE BONDS: ACGB Apr-29 Auction Results
Jun-24 01:05
The AOFM sells A$900mn of the 3.75% 21 May 2029 bond, issue #TB1487:
- Average Yield (%): 3.9389 (prev. 3.9486)
- High Yield (%): 3.9400 (prev. 3.9500)
- Bid/Cover: 3.4667x (prev. 4.1250x)
- Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield (%): 95.0 (prev. 66.7)
- Bidders: 32 (prev. 41), 11 (prev. 18) successful, 5 (prev. 8) allocated in full
