An uninspiring Asian session ahead of the 19th Communist Party Congress in China. Bond markets failed to follow through on the Taylor sell off in US hours with TYZ7's trading in a tight 2 tick. Volumes were light with just under 60k contracts changing hands. JGB's were also subdued, trading in a tight 7 tick range while Aussie 10s recovered from earlier weakness to finish mid range. Equities were generally higher with the Nikkei and Aussie markets outperforming (Nikkei +0.29%, Hang Seng +0.18%, Shanghai Comp +0.06% & S&P/ASX +0.79%). The Dollar also traded within a tight range, gaining slightly against most pairs but finishing unchanged vs both the JPY & GBP. Elsewhere Oil was flat and Gold finished $8 lower on profit taking.
Key Headlines:
-AUSTRALIA ANZ CONSUMER CONFIDENCE INDEX FALLS TO 112.4 VS 113.8
-RBA Reaffirms Growth to ‘Increase Gradually' Backed by Low Rates
-AUSTRALIA SEPT. NEW VEHICLE SALES FALL 0.5 % VS MONTH AGO
-NEW ZEALAND BONDS HELD BY FOREIGNERS 60.4% FROM 61.2% MONTH AGO
-RBNZ 3Q SECTORAL FACTOR MODEL INFLATION INDEX RISES 1.4% Y/Y
-MOODY'S: JAPAN'S CREDIT STRENGTHS REMAIN ROBUST
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