Swaps - AUD
There has been trade in 1-month AUD forward swaps and the 3s/10s box spread has widened. The RBA saw a case to cut rates at its meeting this month.
There have been trades in AUD swap curve spreads ahead of the RBA minutes. The 5y AUD-USD swap spread trade is in focus. Qantas launched a 10y bond.
The AUD 1y1y forward traded after the sharp decline in short rates. The AOFM sold May 2028 ACGBs while ANZ issued EUR1bn in 10y bonds.
10-year AUD swaps saw good and busy 10-year offers amid ongoing concern over the US-China trade war.
The AUD 3s/10s box spread dipped to a 1-month low. More dovish views on the RBA outlook have been expressed. PIMCO launched a new investment trust.
Short AUD Swaps have been bid on the rally and the 3s/10s box spread has compressed. T-Corp is planning a Green Bond issue. NWB sold a Kangaroo.
There has been trade in 1y AUD forwards and swap spreads have eased. Discussion around further RBA easing continues, with focus on the ELB and QE.
Trading in AUD swaps has not been overly active, with some light receiving across the curve. The 3s/10s box is wider.
Optimism over the trade situation between China and the US has prompted some early paying in AUD swaps.
10-year AUD swaps have seen interest on the rally today. It has been suggested that the government bring forward the tax cuts planned for 2022.