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Global Macro
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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: China CFETS Yuan Index Down 0.36% In Week of Dec 6
MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday
GoC Yields Touch Fresh Cycle Highs
- GoC yields are another 5-7bps higher today as all major tenors move further above 3% for new cycle highs.
- The continued underperformance to Tsys (up circa 3bps) further boosts already high Can-US yield differentials, with the 34bp for the 2Y the highest since Dec’21 and the 23.5bp for the 10Y the highest since late 2011.
- Some of this latest underperformance looks Treasury-specific though, with core Europe seeing similar moves to Canada ahead of tomorrow's ECB decision.
- The widening yield differentials are however at risk of narrowing if recent BoC hawkishness is even marginally pulled back by Gov Macklem speaking tomorrow following the BoC's Financial System Review.
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.