CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Heavy European issuance weighed this morning but focus switching to US CPI

BONDS

Core fixed income has been under pressure this morning, particularly in Europe which sees some heavy supply this morning.

  • The EU has held a syndication for a E9bln 7-year NGEU issue, the Netherlands sold almost E2bln of its 30-year DSL via auction, Italy sold E5.75bln of 3/7/30-yera BTPs while Germany looks to sell E5bln Schatz. In addition, the UK has sold GBP3bln of 5-year gilts.
  • Economic data so far today has been focused on the UK with labour market data showing the number of payrolled employees overtook the pre-pandemic peak in August.
  • The focus is now squarely on the US CPI print, with both headline and core inflation expected to fall a tenth from last month's levels in Y/Y terms.
  • TY1 futures are down -0-4+ today at 133-05 with 10y UST yields up 1.2bp at 1.340% and 2y yields up 0.2bp at 0.216%.
  • Bund futures are down -0.28 today at 171.52 with 10y Bund yields up 1.6bp at -0.316% and Schatz yields up 0.4bp at -0.718%.
  • Gilt futures are down -0.33 today at 127.65 with 10y yields up 3.2bp at 0.776% and 2y yields up 2.1bp at 0.246%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.