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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.
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Free AccessKey Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Bank Earnings Misses Weigh On GoC Yields
- GoCs outperform Tsys with yields 2.5-4bps lower across the curve. The 2Y comparison is muddied by yesterday’s new 2Y Tsy but cleaner with 5Y -3.5bps vs -1.5bps for Tsy and 10Y -4bps vs -2.5bps.
- Bank earnings misses are perhaps a factor after yesterday’s underperformance, with BMO (Q2 adj EPS 2.93 vs est 3.21) and Scotia (Q2 adj EPS 1.70 vs est 1.76). The largest two by market cap, RBC and TD, follow tomorrow.
- 10Y supply highlights a light domestic docket, with GoCs otherwise likely at the mercy of US debt ceiling headlines and Fedspeak.
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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.