Free Trial
AUSSIE 10-YEAR TECHS

(H3) Weaker Into Midweek Close

US TSYS

Moderately Richer In Volatile Trade

AUSSIE 3-YEAR TECHS

(H3) Falters on Firm CPI

BONDS

NZGBS: Flat After Frenetic Wednesday

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 Access

Fed Delivers 75Bp Hike, "Have a Ways To Go"

US TSYS

Tsys weaker/off lows following whipsaw reaction to expected, fourth consecutive 75bp rate hike to target range of 3.75%-4.0%. "The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time," the FOMC said.

  • Bonds gapped to new high (30YY dropped to 4.0492%) then quickly fell to session low (30YY 4.1257%) immediately after the annc.
  • Bonds extended lows as Fed Chairman Powell discusses the risk of entrenched inflation and not hiking enough to get it under control. "From a risk management standpoint we want to make sure that we don't make the mistake of either failing to tighten enough or loosening policy too soon."
  • Follow-up comment "It's very premature in my view to be thinking about or talking about pausing our rate hike. We have a ways to go" spurring better selling across the curve. 30YY climbs to 4.1363% high.
  • Harkening back to September's "riskier to hike too little than too much" tone also weighed on stocks, SPX eminis -102.5 to 3763.5 after the bell.
  • Currently, 2-Yr yield is up 5.4bps at 4.5989%, 5-Yr is up 2.6bps at 4.2934%, 10-Yr is up 4.2bps at 4.0838%, and 30-Yr is up 3.1bps at 4.1225%.
210 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Tsys weaker/off lows following whipsaw reaction to expected, fourth consecutive 75bp rate hike to target range of 3.75%-4.0%. "The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time," the FOMC said.

  • Bonds gapped to new high (30YY dropped to 4.0492%) then quickly fell to session low (30YY 4.1257%) immediately after the annc.
  • Bonds extended lows as Fed Chairman Powell discusses the risk of entrenched inflation and not hiking enough to get it under control. "From a risk management standpoint we want to make sure that we don't make the mistake of either failing to tighten enough or loosening policy too soon."
  • Follow-up comment "It's very premature in my view to be thinking about or talking about pausing our rate hike. We have a ways to go" spurring better selling across the curve. 30YY climbs to 4.1363% high.
  • Harkening back to September's "riskier to hike too little than too much" tone also weighed on stocks, SPX eminis -102.5 to 3763.5 after the bell.
  • Currently, 2-Yr yield is up 5.4bps at 4.5989%, 5-Yr is up 2.6bps at 4.2934%, 10-Yr is up 4.2bps at 4.0838%, and 30-Yr is up 3.1bps at 4.1225%.