-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessA Soft Start For Futures In Holiday-Thinned Trade
TYU2 moves lower in early trade this week, although remains comfortably within the recently observed range, last dealing -0-11 at 115-27. This comes as e-mini futures and crude oil move higher.
- To recap, the broader cash Tsy curve bear flattened on Friday, although ranges were contained in comparison to recent sessions. Benchmark Tsys were 2.5-8.5bp cheaper come the bell, with most of the focus falling on Fedspeak, as Chair Powell stressed the Fed’s “unconditional” commitment to restoring price stability. That, coupled with some stability in the equity space, after the recent tumult, appeared to apply pressure to U.S. Tsys, although falling oil prices and a subsequent pull lower in breakevens seemed to limit losses for Tsys.
- Weekend Fedspeak saw Governor Waler intimate support for another 75bp hike in July, if the data matches his expectations, as he echoed Powell’s commitment to fighting inflation. Elsewhere, Cleveland Fed President Mester (’22 voter) suggested that it would take 2 years for U.S. inflation to return to the Fed’s target, while Atlanta Fed President Bostic (’24 voter) deployed the fabled “whatever it takes” phrase, pointing to a need to be more muscular with policy moves.
- U.S. Tsy Secretary Yelen also weighed in on inflation over the weekend, pointing to “unacceptably high” prices being likely through the remainder of this year, although she continues to hold the view that a recession is not inevitable.
- The Asia-Pac docket is headlined by the monthly PBoC LPR fixing (consensus looks for no change in the 1- & 5-Year LPRs), while European politics will move to the fore as into London trade, with French President Macron set to lose his absolute majority in parliament (per exit polls released after Sunday’s legislative elections).
- A quick reminder that the observance of the Juneteenth holiday will limit wider liquidity on Monday, in addition to resulting in the closure of cash Tsys and curtailed trading for Tsys futures.
- Note that Monday will see St. Louis Fed President Bullard (’22 voter) comment on inflation and interest rates.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.