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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Curve Flattens On Tuesday, CPI In View
TYM3 deals at 115-14, +0-02, in line with late NY levels.
- Cash tsys finished 2bps cheaper to 1bp richer on Tuesday. The curve twist flattened pivoting on 20s.
- Tsys were pressured in the European session; weakness in EGBs spilled over into the wider space as ECB terminal rate expectations increased.
- IMF rhetoric regarding central banks inability to return inflation to target until 2025 also weighed on the space.
- Tsys gradually firmed off session lows after the latest 3-Year auction was on the screws, an average bid/cover ratio was observed.
- Losses continued to be pared into the close as pre CPI position squaring came to the fore.
- Fedspeak from Philadelphia Fed President Harker crossed a moment ago, noting he is watching data to see of more action is needed on inflation. Chicago Fed President Goolsbee counseled prudence and patience on monetary policy.
- There is a thin calendar in Asia-Pac today. Further out CPI, FOMC meeting minutes and the Bank of Canada monetary policy decision provide today's highlights. We also have the latest 10-Year Supply.
To read the full story
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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.