MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

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' Harker Reiterates Taper View, Time To Talk Timing

US TSYS SUMMARY
Rather muted midweek rally in rates on light volume (TYU 815k) by the bell, 10YY slips to 1.5858% -- low end of range.
  • No substantive data (May Redbook store sales +13.1%; MBA REFIS -5%), Fed Beige Book underscores inflation pick-up: "Input costs have continued to increase across the board," especially in raw materials, freight, packaging, and petrochemicals, as a result of supply chain disruptions, the Beige Book said. "Strengthening demand, however, allowed some businesses, particularly manufacturers, builders, and transportation companies, to pass through much of the cost increases to their customers."
  • Reminder, Fed media blackout starts midnight Fri through June 17, say after the next FOMC policy annc. That said, Philly Fed Pres Harker took the opportunity to reiterate opinion it's time to start debate over taper timing, but "MUST ACT WITH CARE, DON'T WANT TO TRIGGER TAPER TANTRUM" Bbg.
  • Focus turns to ADP private employment data and weekly claims Thursday, May NFP Friday (+653k est vs. +266k prior).
  • The 2-Yr yield is down 0.2bps at 0.1446%, 5-Yr is down 0.8bps at 0.7964%, 10-Yr is down 1.5bps at 1.5909%, and 30-Yr is down 0.7bps at 2.2796%.
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.