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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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- The 10Y breakeven has dipped below yesterday's close after setting a new record high overnight, sitting at 3.01%.
- It was led by a more material pulling back in the 5Y breakeven, meaning the 5Y5Y breakeven has actually increased to new cycle highs, currently sitting at 2.60% off 2.65% earlier.
- 5Y5Y inflation swaps have been more stable today, currently at 2.80% and ~20bps higher than prior to Powell first indicated the need to tighten expeditiously on Mar 21, during which time there has been almost 75bps of additional hikes priced to year-end.
Market Inflation Expectations: 10Y breakeven (purple), 5Y5Y breakeven (green) and 5Y5Y inflation swap (yellow)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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