Free Trial

10Y Breakeven Touches Lowest Since Dec 21

US TSYS
  • Falling long-end inflation expectations have played a large role in today’s Tsy rally (10Y -3.7bps at 1.836%).
  • The 10Y breakeven has fallen throughout the day, currently -3bps at 2.45% for the lowest since Dec’21 having peaked as high as 2.67% in early Jan as earlier rate hikes have been increasingly priced in.
  • Earlier, both UK and Canada CPI hit fresh multi-decade highs, with the UK in particular above expectations.
  • Price components in tomorrow’s Philly Fed mfg survey could be of note after the Empire survey saw the forward-looking component of both prices paid and received reach new highs.

To read the full story

Close

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.