MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

Big sell-off

BOND SUMMARY
  • Core bond markets are under a lot of pressure this morning with Treasury yields with US and gilt 10-year yields both moving markedly higher and reaching their highs since March 2020.
  • Indeed, at the time of writing 10-year UST yields are almost 8bp higher on the day with markets focusing on the better economic outlook with little pushback from the Fed yesterday.
  • Looking ahead, the main event of the day will be the Bank of England with the Monetary Policy Summary and Minutes due for release at midday GMT/8am ET. The market will watch closely whether the MPC views the positive news on the economy as outweighing the tightening of financial conditions and whether there is any pushback on either money market pricing (likely) or longer-term gilt yields (unlikely). Communication regarding the pace of asset purchases will also be closely watched.
  • TY1 futures are down -0-23+ today at 131-11+ with 10y UST yields up 7.5bp at 1.720% and 2y yields up 0.6bp at 0.140%.
  • Bund futures are down -0.21 today at 170.87 with 10y Bund yields up 1.7bp at -0.275% and Schatz yields up 0.2bp at -0.687%.
  • Gilt futures are down -0.37 today at 127.23 with 10y yields up 3.8bp at 0.866% and 2y yields up 0.1bp at 0.105%.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

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.