MNI BRIEF: EC Sees Slight 2025 Euro Fiscal Contraction

BOC'S MENDES SEES US TARIFF INFLATION RISKS AS TWO-SIDED

MNI: BOC Sees More Rate Cuts If Economy Evolves As Expected

MNI China Daily Summary: Tuesday, November 26

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: US Q3 FHFA HPI Q/Q SA +0.7% V +4.3% Q3 2023

MNI:US SEP FHFA HPI SA +0.7% V +0.4% AUG; +4.4% Y/Y

MNI: US REDBOOK: NOV STORE SALES +4.9% V YR AGO MO

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Cheaper As Post-CPI Gains Unwound, TY Breaks Key Support

US TSYS

TYU3 deals at 112-26+, +0-05, in line with late NY levels.

  • Cash tsys finished 4-9bps cheaper across the major benchmarks, the curve bear flattened.
  • Tsys ticked away from post-CPI highs through the NY session as today's FOMC rate decision came into view. Rate cut expectations for 2023 were wound back.
  • CPI was broadly in line with expectations, the headline CPI print was the lowest read since March 2021.
  • TY broke key support at 112-29+, the low from May 26/30, which added further cheapening pressure.
  • The latest 30-Year auction stopped through, strong bid/cover ratio and indirect take-up were observed.
  • FOMC dated OIS price no change for todays meeting with a terminal rate of 5.25% in July. There are ~10bps of cuts in 2023.
  • There is a thin data calendar in Asia-Pac today, further out the latest FOMC rate decision is the highlight. The MNI preview is here.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.