An active Asian session which saw Chinese markets continue to slide while other markets regained some ground to finish mixed on the day (Nikkei +0.07%, Hang Seng +0.15%, Shanghai Comp -0.66% & S&P/ASX -0.06%). The Nikkei recovered after being down 0.59% earlier in the session. Bond markets were also mixed with JGB's and UST's trading lower while Aussie Bonds remained in positive territory. JGB's slipped on curve steepening after the BOJ trimmed the size of the 25y+ purchases by 10b Yen as UST's traded lower from the off with futures leading the way on below average volume of 69k lots. The US$ bounced from its recent lows gaining 28pips vs the yen and 19pips vs Cable as hedges were lifted after the Thanksgiving holiday. Elsewhere Oil & Gold slipped in light volumes with many participants taking advantage of an extended weekend.
-Key Headlines:
-Australia sold A$500 Mln 2% 2021 bonds at an average yield of +2.03%, bid-to-cover 5.4
-Japan Nikkei Manufacturing PMI (Nov P) 53.8, previous 52.8.Highest reading since March 2014.
-The PBoC set the yuan mid-point at 6.5810 against the Dollar – Strongest fixing since October 12th.
-The PBoC injected 30 Bln yuan via 7-day reverse repos; injected 10 Bln yuan via 14-day reverse repos; injected 10 Bln yuan via 63-day reverse repos.
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