Australia Note yield drop to new low ahead of RBA cuts

By Sophia Rodrigues

Published On 22 Oct 2020 , 10:40 AM

As expected, the yield on near-term T-Note fell to a new record low at today's AOFM's auction. The weighted average yield on February 26 Note was 0.0733% compared with previous record low of 0.0982% on October 8 (for the January 29 Note).

The record low bid was 0.0600% versus previous record of  0.0850%.

For the 21 May T-Note, the weighted average yield came at 0.0872% versus previous record low of 0.1098%. The record low bid yield was 0.0800%.

All ahead of RBA rate cut expectations for the November 3 board meeting, including expectation of a cut in the ES rate.

LATEST SNIPPETS

RBA buying A$3B under yield target policy (as CB-Intel flagged)

The RBA has announced it will buy A$3 billion of the April 2023 and April 2024 government bonds under the yield targe...

Published on : 26 Feb 2021 , 11:38 AM
AOFM may raise T-Notes tender next week

After reducing weekly T-Notes tenders to just A$1.0 billion (lowest since March last year) last two times, the AOFM m...

Published on : 26 Feb 2021 , 10:56 AM
Could RBA surprise with bond-buying today?

All eyes on the RBA today for any announcement on bond purchases under the three-year yield target policy. Since Nove...

Published on : 26 Feb 2021 , 10:35 AM
Australia wage price index beat expectations as some wage reductions unwind

Australia's wage price index beat expectations with a 0.6% q/q and 1.4% y/y rise in December 2020 quarter, data p...

Published on : 24 Feb 2021 , 11:37 AM
AOFM sells May 2032 bond at 1.69% weighted average yield

The AOFM sold A$2 billion of the 1.25% May 2032 government bond at weighted average issue yield of  1.6900%.&nbs...

Published on : 24 Feb 2021 , 11:20 AM
AOFM's A$2B May 2032 tender result will be interesting

Looking ahead to the results of the AOFM's tender of A$2 billion of 1.25% May 20232 government bonds in about 15...

Published on : 24 Feb 2021 , 10:46 AM
RBA buying A$1B of April 2024 under yield target policy

The RBA meets market expectation by announcing purchase of bonds under the three-year yield target policy, apart from...

Published on : 22 Feb 2021 , 11:34 AM
RBA bond-buying announcement keenly awaited

Market looking forward to RBA's bond-buying announcement today for purchases under three-year yield target policy...

Published on : 22 Feb 2021 , 10:58 AM
Westpac Evans sees Aussie 10-year yield at 1.9% end-2021

Westpac's chief economist Bill Evans has raised his forecast for US 10-year bond yield to 1.8% from 1.5% by the e...

Published on : 19 Feb 2021 , 04:28 PM
Australia jobless rate drops to 6.4%; hours worked falls sharply due to leave

Australia's unemployment rate fell to 6.4% in January from 6.6% as the number of employed rose 29,100 while the n...

Published on : 18 Feb 2021 , 12:08 PM