MNI BRIEF: Jobless Claims Stays Low, 2Q GDP Revised Higher

MNI China Daily Summary: Thursday, Aug 29

MNI BRIEF: China Discussing Placing Tariffs On Auto Imports

MNI BRIEF: PBOC Restarts CGB Trade After Nearly Two Decades

MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

US EIA:NAT GAS STORAGE +35 BCF TO 3,334 BCF AUG 23 WK

MNI: US NAR JUL PENDING HOME SALES INDEX 70.2 V 74.3 IN JUN

MNI: US Q2 GDP +3.0%

UK: Week Ahead

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

Euribor Strip A Touch Softer; EU Fiscal Deal Updates And US NFP Eyed

STIR

The Euribor strip sits 0.5-3.0 ticks softer through the Blues, as global core FI markets tick away from yesterday's highs.

  • Another round of pressure for long end JGBs provided a headwind for core global bonds in Asia hours, with fresh weakness seen in more recent trade.
  • ECB-dated OIS contracts sit shy of dovish extremes seen earlier this week, but still price around 142bps of cuts by the December 2024 meeting. There are 18bps of cuts priced by March 2024 and 39bps by April 2024 at typing.
  • Domestically, there will be some interest in the Ecofin meeting of finance ministers, with hopes that a deal on fiscal rules can be reached. The MNI Policy Team Reported this morning that Thursday night talks did not result in a breakthrough (for more, see the MNI Policy Mainwire at 0728 GMT). There have been some suggestions that another meeting may be required, although 95% of the matters are now agreed, per comments from Finance Ministers.
  • The local data docket is quiet today (note the ECB are in their pre-meeting quiet period), with main focus on the US labour market data release at 1330GMT.
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.