DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bear Steepening With Earnings and Empire Ahead

US TSYS
  • 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)
BulletMarketsFixed Income BulletsHomepageEarnings Calendar Market NewsMorgan Stanley Market News

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.