AUD Swaps: Light 5-10y bid; EFPs mixed

Australian Dollars
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Losses in US treasuries saw a selloff in AUD rates. 5-10y swaps have seen light paying and EFPs were mixed.

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  • Light 5-10y bid; EPFs mixed

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Light 5-10y bid; EPFs mixed

Further losses in long-dated US treasuries in Asia trading on Monday has prompted a selloff in both short- and long-dated AUD rates though the long-end has been underperforming.

 

In mid-afternoon Sydney trading 10-year bond future was down 8-ticks at 96.535, and the 3s/10s futures curve was 6bps steeper at 33.5bps.

 

Trading has been very subdued with decisions from key central banks already confirmed. Traders expect activities would remain light in the next few sessions before the Christmas week next week.

 

A dealer reported very light paying in 10-year at 3-5bps higher in the afternoon session. 5-year has been surprising relatively busier with paying at about 2.5bps higher in the morning session, and up to 4.5bps higher after lunch break.

 

Key EFPs were mixed as follows: 3-year down 0.25bp at 47.5bps, 5-year up 1.25bps at 68.5bps, 10-year down 0.5bp at 60.75bps.

 

 

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