Free Trial

BMO Wary Of Potential Auction Setup Post-NFP

US TSYS

In the wake of the NFP release BMO write “the soft wage figures were notable as the AHE gain of +0.1% MoM was the slowest in two years.”

  • “Given the net caution implied by the data, we are not surprised to see the bond market responding bullishly with the front-end of the curve leading the price action.”
  • “If nothing else, this update on wage inflation reflects Powell's messaging that the first cut is nearing.”
  • “From here, we'll be cautious of an early setup for next week's coupon supply once the jobs data has been fully absorbed.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.