MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Data Dependent

US TSYS
  • Treasury futures look to finish mixed Thursday with 2s-10s weaker, curves unwinding a good portion of the post FOMC steepening as today's data tempered post-FOMC rate cut projections.
  • Rates actually opened stronger across the board, extending gains after the bank of England delivered a dovish hold policy announcement this morning. Short end support evaporated in stages, initially on slightly lower than estimated weekly jobless claims data: 210k vs. 213k est (prior up-revised to 212k from 209k, however).
  • Treasury futures gapped lower after the S&P Global US PMI releases saw manufacturing beat (52.5 vs cons 51.8 after 52.2) but services miss (51.7 vs cons 52.0 after 52.3) in the preliminary March PMI. Overall input cost inflation hit a six-month high. “Service providers indicated that higher operating expenses generally reflected increasing wages, while rising oil and gasoline costs were often mentioned by manufacturers."
  • After the flash data, Treasuries traded sideways through the rest of the session, Jun'24 10Y futures -3 at 110-11 vs. 110-08.5L/110-26.5H, 2s10s curve -3.603 at -36.766. Moving average studies are in a bear-mode position and this highlights a downtrend. Key short-term resistance to watch is 111-01+, the 50-day EMA. A clear break of this average is required to suggest scope for a stronger recovery. On the downside, the bear trigger lies at 109-24+.
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.