Free Trial

FI and Equities Extending Lows

US TSYS
No obvious headline or technical drivers in late morning trade to explain the move, some desks noting carry-over selling in 5s-10s on post-ECB sell positioning.
Yield curves mildly mixed - 2s10s (34.684 +.238) 5s30s (3.224 -1.104) off earlier lows to near middle session range.
  • Eurodollar futures under heavy pressure as 50bp rate hike chance on the rise again after NY Fed Williams sees 50bp hike in May as a "very reasonable option" in the Fed's effort to "get inflation back to 2%." while they can debate MBS sales further down the road."
  • Stocks mixed, Dow components outpacing weaker SPX and NDX indexes:
    • DJIA up 34 points (0.1%) at 34591.29
    • Nasdaq down 180.1 points (-1.3%) at 13461.37
    • S&P E-Mini Future down 27.25 points (-0.61%) at 4414.5

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.