MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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%.
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.