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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 AccessMNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
Bear Steepening With Earnings and Empire Ahead
- Cash Tsys have bear steepened from Friday’s after yesterday’s MLK day closure, with the front end unchanged but long end yields drifting 4-6bps higher in a continuation of Friday’s paring of gains seen after Thursday’s in-line CPI print. Moves are potentially buoyed by stronger than expected China data and German ZEW sentiment overnight although it’s not reflected in near-term Fed pricing.
- A lighter docket today ahead of tomorrow’s stacked session (plus the BoJ overnight) although equity earnings resume, including Goldman and Morgan Stanley before the NY open today.
- TYH3 edges slightly lower from yesterday’s thin session to trade 7 ticks lower from Friday’s close at 114-17+, with modestly below average volumes. The trend signal remains bullish with resistance at 115-15+ (Jan 13 high) and support at 113-26+ (20-day EMA).
- Data: Empire mfg Jan (0830ET)
- Fedspeak: NY Fed’s Williams (1500ET) welcoming remarks, no text
- Bill issuance: US Tsy $60B 13W, $48B 26W bill auction (1130ET)
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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.