Free Trial

(Z2) Heading South


What to Watch


Spreads widen after election results


Auction Preview: EU NGEU Bonds

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Treasury yields have retreated from Monday's highs, but remain well above levels at the start of the week.

  • The curve has steepened with the front end outperforming as Fed rate hike expectations pull back from extremes. Total hikes priced by end-2022: 277bp, a few bps lower than late Monday, but 12bp below overnight highs. 75bp hikes in Jun and Jul are still roughly fully priced though.
  • The 2-Yr yield is down 7.2bps at 3.2819%, 5-Yr is down 6.9bps at 3.4135%, 10-Yr is down 6.5bps at 3.2952%, and 30-Yr is down 5.1bps at 3.2967%.
  • The market tone remains cautious. The USD has held Monday's gains, while stock futures have faded most of the Asia-Pac rebound.
  • Main item on the calendar aside from the beginning of the 2-day FOMC meeting is May PPI (0830ET), which could have implications for the Fed's perceptions of inflationary pressures.
  • We'll be publishing a short update to our Fed preview to account for late Monday's developments.
  • Earlier, May NFIB Small Business Optimism came in line w expectations (93.1 vs 93.0 survey).

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.