-
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 Podcasts -
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
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
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 Touch Richer, FOMC In View
TYH3 deals at 114-29+, +0-04+, at the top of its 0-07 range on a light volume of ~60K, firming into London hours, with activity inhibited by the proximity to today’s FOMC decision.
- Cash Tsys are 2-3bp richer across the major benchmarks, with the wings leading the bid. Note that the major yield benchmarks haven’t got anywhere near touching their post-CPI lows.
- With little in the way of headline drivers, the lingering impulse from Tuesday's softer-than-expected CPI data was observed in Asia (after a pullback from best levels into the NY close, which was aided by a soft 30-Year auction and notable block sale in TY futures).
- A block buy in TY futures (+1,896) helped underpin the space overnight.
- OIS pricing for the impending Fed meeting is stable, with a 50bp hike fully priced in after previous guidance from the Fed re: a potential step down in the pace of tightening at the meeting. Meanwhile terminal rate pricing sits at ~4.85%, after easing post-CPI.
- The space looked through reports suggesting that the Biden administration is to put Chinese chipmaker YMTC and more than 30 other companies on a trade blacklist.
- The FOMC decision and Fed Chair Powell's press conference will dominate today, see our full preview of that event here.
- Elsewhere UK CPI data may provide some cross-market spillover in the London morning.
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.