Free Trial

Beijing's RRR cut yesterday looks......>

US TSY/RECAP
US TSY/RECAP: Beijing's RRR cut yesterday looks set to impact global bond
markets this morning after last week's sell-off which as taken yields to fresh
cycle highs across the board. 
- The real yield picture will be key to watch as the recent backup in yields has
not been matched by an equal rise in inflation expectations, meaning real yields
are at multi-year highs. 
- The 2s-10s curve steepened bearishly last week with spread currently at
34.37bps, the highest since June, as the curve appears to be staging a reversal
pattern. 
- With the PBOC easing policy, markets will look to any comments by the US that
Beijing is seeking to gain an advantage by weakening the yuan. 

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.