-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
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.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
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.
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 AccessEquities Reverse Gains But Relatively Resilient To Yield Squeeze
- Equities have seen a quick but limited step lower with Israel advising its citizens to leave Turkey in a sign of regional spillover. It adds to reversal of earlier gains, hindered by the second wind of the sell-off in the belly of the Treasury curve that started around 1230ET.
- Despite moving back lower on the day, they hold up well with 5Y yields hitting fresh highs since 2007 and currently +15.5bps despite having rallied 2bps off yield highs.
- ESZ3 trades at 4388.8 (-0.3%) off a high of 4423.25 having stopped just short of resistance at 4426.42 (50-day EMA).
- The Nasdaq 100 (-0.6%) e-mini underperforms in light of the real yields squeeze, and notably weighed by Nvidia which has pared losses but to a still heavy -4.5%, whilst the Russell 2000 (+1.2%) benefits from the strength in today’s US retail sales data helping support the soft-landing view.
- Broad beats for today’s pre-market earnings: Johnson & Johnson (adj EPS $2.66 vs est $2.52), Lockheed (adj EPS 6.77 vs est 6.67), GS (net rev $11.82B vs est $11.13B), BofA (trading revenue ex DVA $4.42B vs est $4.16B)
- A few smaller names to come after the close but greater focus is on tomorrow’s earnings slate, which includes Tesla, Procter & Gamble, Morgan Stanley, Netflix, Abbot Laboratories & Elevance Health.
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.