-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
Gilts move notably higher post-PMI data; German curve holds after Villeroy
- Gilts are leading the way after a significant repricing of BOE hiking expectations following the fourth largest ever month-to-month fall in the UK composite PMI (and exceeding anything prior to the pandemic). The picture for the labour market is also looking gloomy with companies not fully replacing those who have voluntarily left.
- The gilt curve has seen a notable bull steepening and has dragged 10-year UST and Bund yields higher.
- After hitting their highest level since May 5 ahead of the data overnight, 2-year gilt yields are almost 11bp lower on the day now.
- There was no lasting reaction in bond markets to the Eurozone PMI releases.
- Also this morning we have heard from ECB's Villeroy who said that 50bp hikes are not the consensus of the ECB but that the repo rate would be back at the neutral rate next year (which he described as between 1-2%). This has helped anchor Schatz and the rest of the German curve somewhat, although yields are still lower on the day after the UK PMI print.
- Looking ahead we are due to receive the US flash PMI data, Richmond Fed and new home sales as well as a speech from Fed's Powell.
- TY1 futures are up 0-13 today at 119-31+ with 10y UST yields down -4.7bp at 2.806% and 2y yields down -4.8bp at 2.575%.
- Bund futures are up 0.20 today at 153.31 with 10y Bund yields down -2.7bp at 0.987% and Schatz yields down -1.2bp at 0.392%.
- Gilt futures are up 0.78 today at 118.77 with 10y yields down -7.8bp at 1.891% and 2y yields down -10.6bp at 1.449%.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.