Swaps - AUD
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.
The return of RBA bond purchases Wednesday triggered a mild AUD rates sell-off. A 5s/10s curve trade has been proposed. SAFA issued a AUD1bn 12y bond.
Short AUD swap spreads are lower and the box has pushed above 1bp. The RBA left its rates targets unchanged and resumed its bond purchases today.
AUD swap spreads have dipped back to -10bps where some consider them cheap. The spread of COVID-19 in Victoria poses a risk to the Australian economy.
Weaker-than-expected domestic data has backed light receiving in 10-year AUD swaps. EFPs are generally tighter.
There was receiving interest in the AUD 15y15y forward today ahead of a record bond performance index extension this month.
There has been AUD swap curve flow and the box spread has disnverted. CPI dropped a record amount in Q2. a 10y AUD-USD trade has been proposed.
AUD swap curve spreads and forwards have traded. EFPs are expected to decline further. A strong 2051 syndication result is expected today.
Long AUD swap spreads have dropped below -10bps and the 3s/10s box has inverted further. The RBA reiterated its 3y yield target commitment.
AUD swaps have showed limited reaction to the move in US treasuries. Swaps saw mostly 2-way interest at the beginning, until some 10y offers emerge.