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Free AccessGoolsbee Steers Clear Of September Rate Hike Debate After $IG Issuance Weighs
Comments from Chicago Fed President Goolsbee (’23 voter) offer nothing in the way of commitment when it comes to future policy steps as he stresses data dependence (remember he was very much on the fence ahead of last week’s meeting before supporting a rate hike), while pointing to “quite good” monthly inflation readings, which may be providing some incremental support for Tsys (alongside a tick away from best levels in e-minis around the cash equity open). Before that, the tabling of multi-part $IG corporate issuance deals applied weight to the space, seeing Tsys away from richest levels of the day. TYU3 remains closer to the top of its daily range than the lows, while cash Tsys run ~1bp cheaper across the curve.
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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.