MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

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 Optimism vs. Russia/Ukraine Geopolitical Tension

US TSYS SUMMARY
Rates traded sideways after the long Bond hit session highs around 1000ET Thu, moderately bid near top end of range on rather subdued volumes, TYM1 just over 985k after the close. S&P eminis trading firmer but off new all-time high 4092.75 tapped overnight.
  • No significant market reaction to weekly claims: +16k to 744k, continuing claims -0.016M to 3.734M. But rates did climb to session highs by midmorning, partially tied to safe haven buying due to increasing geopolitical tensions between Russia and Ukraine as the former builds up military presence near Donbass region.
  • News wires reported German Chancellor Merkel "TOLD PUTIN TO REVERSE UKRAINE TROOP BUILDUP" Bbg around the time. Not eliciting much additional safe haven support, but late CNN headline report U.S. CONSIDERING SENDING WARSHIPS INTO THE BLACK SEA. Which makes some wonder why equities can continue to make new highs if a hot war in the region is a real concern.
  • Fed speak: Fed Chair Powell at IMF virtual forum, is looking for several more strong job reports like last Fri's (+916k for Mar) before judging the economic recovery has shown progress toward full employment, adding that conditions remain uneven.
  • MN Fed Pres Kashkari raised a few eyebrows late in day that "he would not panic if he saw a 4% inflation rate" DJ while tolerating "near-term inflation overshoot", Bbg.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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.