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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI POLITICAL RISK - Thune Defends Two-Step 2025 Agenda
MNI US MARKETS ANALYSIS - EUR Steadies Ahead of ECB
FOMC Aftermath, PPI, Weekly Claims
- Treasuries are moderately lower at the moment, upper half of narrow overnight range following yesterday's steady FOMC policy annc, tempered by split rate cut guidance between one to two by year end. Yesterday's lower than expected CPI shows progress, builds confidence, it's still not enough to warrant looser policy at this time, Chairman Powell said at the post-FOMC presser.
- Sep'24 10Y Treasury futures are currently trading -3 at 110-07 vs. 110-09 high. Initial technical resistance at 110-21.5 (June 12 high) followed by 110-27.5 (1.00 proj of the Apr 25 - May 16 - 29 price swing). On the flipside, support holds at 109-16/109-00.5 (50-day EMA / Low Jun 10 and key support).
- Cash yields are running mildly lower: 5s -.0071 at 4.3089, 10s -.0098 at 4.3063%, 30s -.0075 at 4.4677%, while curves look flatter: 2s10s -0.532 at -44.532, 5s30s -0.128 at 15.612.
- Focus turns to this morning's PPI final demand and weekly jobless claims at 0830ET. Not out of blackout until tomorrow, NY Fed Williams attends a moderated discussion w/ Tsy Sec Yellen hosted by the NY Economic Club at 1200ET.
- Rounding out the week's Treasury supply, $70B 4- and 8W bills auctioned at 1130ET followed by $22B 30Y Bond auction reopen (912810UA4) at 1300ET.
To read the full story
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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.