MNI BRIEF: Bostic Says Fed Not In Rush To Cut To Neutral

MNI: FED'S BOSTIC-NEUTRAL RATE IS SOMEWHERE IN 3%-3.5% RANGE

MNI BRIEF: China To Support OBOR Via Foreign Exchange Reserves

MNI China Daily Summary: Friday, October 18

MNI BRIEF: PBOC To Curb Challenges Of House And Equity Markets

MNI BRIEF: PBOC Launches CNY300bln Stock Buy-back Facility

MNI: US SEP TREASURY BUDGET $64.3B

MNI: US SEP HOUSING STARTS 1.354M; PERMITS 1.428M

EZ/UK Bond Supply Calendar: IT, SL, EU, BE, BoE APF on Monday

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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

Focus on Thursday's CPI Inflation Data

US TSYS
  • Treasury futures hold mostly higher after the bell, curves flatter with the short end lagging better long end support (2s10s -1.769 at -35.027, 5s30s -1.335 at 23.026).
  • Nothing really new coming from the Fed chairman earlier as he continued to strike a balanced stance that leans slightly dovish: "YOU DON'T WANT TO WAIT UNTIL INFLATION GETS ALL THE WAY TO 2% TO EASE POLICY" while "WE WANT TO HAVE GREATER CONFIDENCE, WHICH MEANS MORE GOOD INFLATION READINGS," Bbg.
  • Tsys slipped to session lows into the London close but rebounded soon after. Futures bounced back near early session highs after the $39B 10Y auction re-open (91282CKQ3) stops .9bp through: 4.276% high yield vs. 4.285% WI; 2.58x bid-to-cover vs. 2.67x prior.
  • Sep'24 10Y futures are currently +2.5 at 110-15.5 vs. 110-20 high -- just off Friday's 110-20.5 high. Key short-term resistance at 111-01 - the June 14th high, remains intact for now.
  • Focus remains on Thursday's June CPI inflation data. Consensus sees core CPI at 0.2% M/M in June after the softer than expected 0.16% M/M in May (vs cons 0.3), with a mild skew toward a “high” 0.2%, per MNI’s compilation of sell-side previews.
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.