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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.
US TSYS
- US Treasuries are holding onto a solid bull steepening, with 2YY -4.5bps and 10YY onwards -0.5-1bp after what had been some sizeable gyrations before and after the 20Y re-open stopped through for the second month.
- Data implications were mixed, with consumer confidence stronger than expected (but as a result of lowest inflation expectations since Sep’21) and existing home sales sliding even more heavily than expected.
- The combination sees longer end yields with minimal retracement of yesterday’s BoJ fallout whilst the curve continues to steepen with 2s10s of -53bps at highs since mid-Nov having been -80bps just last week.
- Tomorrow sees the third release for Q3 GDP whilst weekly jobless claims are of note after recent surprising resilience. Still no Fedspeak scheduled ahead of the Christmas break.
US 2s10s spread (bp) - showing mid not ask pricing per textSource: Bloomberg
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.
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