17 Feb 2015
Market Movers: Yields drift lower in the Asian trade – TDS
FXStreet (Barcelona) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities, shares the market performance in the Asian session, commenting that failure to reach an agreement in the Eurogroup meeting for Greece’s debt program led bond yields to move lower.
Key Quotes
“Eurogroup officials were unable to reach an agreement with the Greek Finance Minister overnight, prompting bond yields to drift lower in Asia.”
“US 10yr yields are 5bps lower at 2%, ACGB 10yr yields are 2.5bps lower and NZGB 10yr yields –1.5bps. The JGB 20yr ¥1.2tn auction was well received, yields 8bps lower from pre auction levels. While bond yields are lower, this is not denting risk appetite.”
“The USD is weaker vs most of its peers. The AUD and NZD are up nearly +0.3%, the best G10 performers today with the lower likelihood that the RBA will cut next month driving the AUD higher while expectations of a better dairy auction tonight is supporting the NZD.”
“Equities are essentially up in Asia with only the Australian index the notable underperformer down 0.5%.”
“In commodities, brent crude is +1% (helping the CAD +0.2%), gold is 0.3% weaker, copper futures +0.4% but iron ore futures 0.6% weaker.”
Key Quotes
“Eurogroup officials were unable to reach an agreement with the Greek Finance Minister overnight, prompting bond yields to drift lower in Asia.”
“US 10yr yields are 5bps lower at 2%, ACGB 10yr yields are 2.5bps lower and NZGB 10yr yields –1.5bps. The JGB 20yr ¥1.2tn auction was well received, yields 8bps lower from pre auction levels. While bond yields are lower, this is not denting risk appetite.”
“The USD is weaker vs most of its peers. The AUD and NZD are up nearly +0.3%, the best G10 performers today with the lower likelihood that the RBA will cut next month driving the AUD higher while expectations of a better dairy auction tonight is supporting the NZD.”
“Equities are essentially up in Asia with only the Australian index the notable underperformer down 0.5%.”
“In commodities, brent crude is +1% (helping the CAD +0.2%), gold is 0.3% weaker, copper futures +0.4% but iron ore futures 0.6% weaker.”