MNI BRIEF: Japan Dec Factor Output Hits 1st Rise in 2 Months

MNI BRIEF: Japan Jan Tokyo Core CPI Rises 2.5% Vs. Dec +2.4%

MNI JAPAN DEC FACTORY OUTPUT +0.3% M/M; NOV -2.2%

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100 BPS TO 13.25%

MNI: Fed Statement Comparison - January vs. December

MNI INTERVIEW2: New NBH Chief Must Clarify Reaction Function

MNI JAPAN DEC RETAIL SALES +3.7% Y/Y; NOV +2.8%

MNI JAPAN DEC FACTORY OUTPUT +0.3% M/M; NOV -2.2%

MNI JAPAN DEC JOBLESS RATE FALLS TO 2.4% FROM NOV 2.5%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: ECB Cut Underpins Treasuries, Mixed Data Tempered Gains

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Treasuries are close to the middle of a higher session range after the bell (TYH5 +8.5 at 109-07), off highs following this morning's mixed data, while gaining support after the ECB cut rates by 25bp to 2.75% earlier adding inflation should return sustainably to target this year, with the language in the statement barely changed from December.
  • Initial claims in the Jan 25 week fell 16k to a 3-week low of 207k, defying forecasts of a 2k rise to 225k. This was the largest drop in SA initial claims in 6 weeks, and largely reverses the previous two weeks' uptick.
  • Q4 GDP growth missed expectations at 2.3% Q/Q annualized (vs 2.6% survey, 3.1% prior, though exactly in line with yesterday's Atlanta Fed GDP Nowcast), the weakest in 3 quarters, with the headline PCE price deflator was on the soft side (2.2% vs 2.5% expected).
  • Pending sales dropped 5.5%, vs 1.6% prior (downward rev from 2.2%) and expecfations of flat growth, marking the first drop after 4 consecutive increases.
  • There was little reaction in EURUSD as the information hit the wires, however, short-term positioning and softer-than-expected US GDP data, prompted a firm bounce for the pair in early US hours. BBG US$ index receded 3.31 to 1298.81 after the bell.
  • Focus turns to the Fed coming out of media Blackout and next week's key CPI & PPI inflation metrics ahead of the headline Employment data for January next week Friday.
234 words

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.
  • Treasuries are close to the middle of a higher session range after the bell (TYH5 +8.5 at 109-07), off highs following this morning's mixed data, while gaining support after the ECB cut rates by 25bp to 2.75% earlier adding inflation should return sustainably to target this year, with the language in the statement barely changed from December.
  • Initial claims in the Jan 25 week fell 16k to a 3-week low of 207k, defying forecasts of a 2k rise to 225k. This was the largest drop in SA initial claims in 6 weeks, and largely reverses the previous two weeks' uptick.
  • Q4 GDP growth missed expectations at 2.3% Q/Q annualized (vs 2.6% survey, 3.1% prior, though exactly in line with yesterday's Atlanta Fed GDP Nowcast), the weakest in 3 quarters, with the headline PCE price deflator was on the soft side (2.2% vs 2.5% expected).
  • Pending sales dropped 5.5%, vs 1.6% prior (downward rev from 2.2%) and expecfations of flat growth, marking the first drop after 4 consecutive increases.
  • There was little reaction in EURUSD as the information hit the wires, however, short-term positioning and softer-than-expected US GDP data, prompted a firm bounce for the pair in early US hours. BBG US$ index receded 3.31 to 1298.81 after the bell.
  • Focus turns to the Fed coming out of media Blackout and next week's key CPI & PPI inflation metrics ahead of the headline Employment data for January next week Friday.