MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

10YY Breached 3% Briefly

US TSYS

London and Asia extended spring holiday weekend, exacerbated already thin markets Monday with accts sidelined ahead Wed's FOMC policy annc. TYM2 neared key resistance of 118-02.5 in the second half.

  • Notably, 10YY breached of 3.0% to 3.0003% briefly - the highest level since Dec 2018), rebounded after the bell (TYM2 at 118-12.5) as did equities: SPX emini Jun'22 futures at 4145.0 +17.5 vs. 4056.25 second half low.
  • May’s FOMC decision will be the most hawkish in recent memory, with a 50bp hike and the launch of balance sheet reduction. However, already aggressive market hike pricing limits the potential hawkish impact. Focus will be on the FOMC’s openness to 75bp hikes and/or moving above “neutral”, and any hint of asset sales.
  • That said, lead quarterly Eurodollar futures finished near session highs (ESM2 at 98.105 +0.030, EDU2 +0.010 at 97.25).
  • Tuesday data kicks off at 1000ET: Factory Orders (-0.5%, 1.2%); ex-trans (0.4%, --); Durable Goods Orders (0.8%, 0.8%); ex-trans (1.1%, 1.1%); Cap Goods Orders Nondef Ex Air (1.0%, 1.0%); ship (0.2%, --) and JOLTS Job Openings (11.266M, 11.200M).
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.