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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.
US TSYS
- Bostic’s (’24 voter) implied openness for a larger than 75bp hike and Beige Book comments hinting at stagflation concerns see yield curve inversion mount and the 3M to 10Y spread tumble further.
- 2s10s inverts further to -23bps (-15bp on the day) having earlier hit the most inverted levels since 2000, whilst it also drivers 2s5s to -12bp (-9bps).
- The 3M to 10Y spread was surprisingly steady with the US CPI beat before starting to fall after the BoC’s surprise 100bp hike, and now sits at 50bps (-27bps).
- Beige Book on prices: substantial price increases seen in all districts, price pressure seen lasting through year-end.
- Beige Book on growth: outlook for future GDP growth mostly negative, contacts expect more demand weakening in 6-12 months, several districts saw signs of demand slowdown and contacts in 5 districts noted recession concerns.
Source: Bloomberg
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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