MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI BRIEF: Market Cash Rate Pricing Off - RBA Minutes

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

China Repo Rates Rise On Tuesday

CHINA PBOC CONDUCTS CNY149.1 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1325 TUES VS 7.1415

Headline Consumer Sentiment Softens, House Price Expectations Rise Further

EZ/UK Bond Supply Calendar: Finland Syndi; Green Bunds Due Tues

CBRT Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Active Trade, Heavy Volumes

US TSY FLOWS
  • Yield curves holding near 2Y lows (5s30s 42.495L) as short end remains under pressure post-data (2YY 1.2061% high, currently 1.1782% +.0278), 30Y Bonds outperforming/firmer (30YY 2.1162% -.0487). Heavy volumes, TYH2 well over 975k already.
  • FOMC aftermath: Some dealer research teams already starting to call for 50bps hike at the March 16 meeting (Nomura, w/150bp total for 2022, see 0929ET bullet).
  • Fading the short end sell-off, dealer desks report domestic real$ accts buying 2s, 3s and 5s, central bank buying 3s. On the flip-side, prop and fast$ selling 2s-5s, foreign real$ buying 10s-30s.
  • Reflected in short end Eurodollar futures, lead quarterly EDH2 traded as low as 99.475 (-0.060) but have rebounded slightly as market pricing sees chances the Fed coming out swinging with a 50bp hike off the bat as a little too aggressive.
  • Chances of a 50bp go at the June 15 FOMC a little more acceptable, however, June'22 futures (EDM2) traded down to 99.08 low (-0.115), 99.12 last.
  • Option accts have been hedging 25bp quarterly hikes starting in March for weeks already, have been adding judiciously to 50bp hikes in June and various adjustments to underlying futures out to 2023.
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.