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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
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 AccessMNI Eurozone Inflation Insight – November 2024
MNI ASI OPEN: Fed Bostic Still Confident of Waning Inflation
MNI ASIA MARKETS ANALYSIS: Tsy Curves Twist Flatter
Curve Consistently Steeper
- Steeper curves the consistent theme on the day as futures see-sawed on the day, heavier volumes (TYU2>1.7M) more tied to Sep/Dec rolls rather than data that kicked things off.
- Tsys extended highs overnight after soft European PMIs (France, Germany, EU in line or better than estimated but still sub-50, mixed UK w/ Mfg 46.0 vs. 51.0 est, Services 52.5 vs. 51.6 est) - only to extend session lows (no obvious headline driver) in the lead-up to US PMIs.
- Tsys have rebounded back near overnight highs, yield curves bull steepening (2s10s +3.648 at -26.297) after US PMIs come out weaker than estimated, particularly Services (44.1 vs. 49.8 est). Further impetus from slump in New Home Sales for July: 511k vs. 575k est, and 590k prior.
- Tsy futures pare gains yest again after $44B 2Y note auction (91282CFG1) tailed: 3.307% high yield vs. 3.290% WI; 2.49x bid-to-cover vs. 2.58x prior.
- Focus remains on KC Fed's annual Jackson Hole Economic Symposium: Reassessing Constraints on the Economy and Policy, starts Friday w/ Chairman Powell speaking at 1000ET (0800 local), text is expected but no Q&A. Markets keen on pivot after cooling data or will the Fed maintain hawkish stance to squelch inflation.
- Currently, The 2-Yr yield is down 1.2bps at 3.2975%, 5-Yr is up 1.8bps at 3.1753%, 10-Yr is up 3.2bps at 3.0461%, and 30-Yr is up 2.5bps at 3.2508%.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.