Swaps - AUD
AUD swaps have been well bid after US Fed Chair flagged an interest rate increase in March. 3-year EFP is tighter despite good paying in 3y swaps.
AUD swaps have been well bid amid fears over a sooner-than-expected interest rate hike. Some swap rates hit their new high.
AUD bond futures are weaker as USTs have failed to sustain gains. 5y swaps have been better bid and 10-year saw mostly 2-way interests.
3-year AUD bond future rebounded after dipping to its recent low on Thursday. Swaps have been well offered but EFPs are generally wider.
The AUD 10s/30s curve spread traded after flattening recently. COVID stresses are showing in the labour market. IADB issued a 10y EMTN.
Activity in AUD swaps has picked up today. Public support for the government is declining ahead of the election. NWB issued a Kangaroo Bond.
There was early trade in AUD curve spreads. Hedging of increasing offshore issuance by Australian banks is expected to keep AUD/USD basis elevated.
The 3s/10s AUD box has dipped to a 1m low. The case for a QE exit is growing as the RBA's February meet approaches.
10-year AUD swaps have been well offered, contrasting better paying at the shorter-end of the curve. EFPs are mostly tighter.
Short AUD forwards traded overnight. The Treasurer has backed the case for a formal RBA review later this year.