MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: RBA LEAVES CASH RATE AT 4.35%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

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 Speakers Eyed With Core Curves Trading Mixed

BONDS

Global core FI is a touch stronger in early Friday trade, with curves trading mixed.

  • Limited price action in bonds is reflective of consolidation across asset classes, with equities trading sideways/higher, and the USD partially paring Thursday's rise.
  • The US and UK short ends are stronger as BoE and Fed terminal rate hike pricing has softened about 1bp apiece vs Thursday's US data / Fed speaker induced jump; ECB is up <1bp after a flat performance yesterday.
  • Bull steepening is evident in the US curve, with twist steepening in the UK and a flat German curve out to 10Y.
  • Gilt futures touched a 2023 low (continuous contract) with Bunds at May's low before regaining ground. Tsys are trading within Thursday's ranges (and a 7 tick daily range).
  • With a limited data slate Friday, including no major US releases, the main events on the schedule are central bank speakers: BoE's Haskel, ECB's Schnabel / Lagarde / de Cos, and Fed's Williams, Bowman, and Powell.
  • Looking ahead to the weekend, attention will remain on developments in US debt limit negotiations.

Latest levels:

  • Jun US 10Y futures (TY) up 5/32 at 114-2.5 (L: 113-30 / H: 114-05)
  • Jun Bund futures (RX) up 4 ticks at 134.07 (L: 133.76 / H: 134.33)
  • Jun Gilt futures (G) down 7 ticks at 98.91 (L: 98.76 / H: 99.21)
  • Italy / German 10-Yr spread 0.8bps tighter at 185.9bps
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.