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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.
US TSYS
10-Year U.S. Tsy yields continue to operate within the confines of the uptrend channel established since the August low was registered. There was a marginal extension beyond the previous cycle highs during Monday’s session, before a pullback from best levels. A break beyond Monday’s high would open the way towards the upper limit of the uptrend channel and horizontal resistance drawn off the April ’11 high (3.6093%/3.6132%).
- The latest FOMC decision presents the key event risk for broader markets and U.S. yields this week. Our Fed preview highlighted that along with a 75bp hike at the September meeting, the FOMC will attempt to cement “higher for longer” rate pricing.
- The dot plot provides the first chance for a formal depiction of the Fed’s broader thinking on the matter post-Jackson Hole.
- A hawkish surprise from the Fed may be a pre-requisite to facilitate a challenge of the aforementioned technical resistance levels, although we cannot completely rule out the idea of a pre-Fed meeting test.
Fig. 1: US. 10-Year Tsy Yield (%)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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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