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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Data
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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.
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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.
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: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans
MNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
COORECTS: High ISM Prices Paid Helps Push 2YY Over 4.9%
Tsys near session lows following volatile first half. Bonds discounted a rally that followed balanced BOE Gov Bailey policy comments overnight, contrasting with more hawkish central bank stances. Tsy sell-off accelerated after midmorning ISM data, particularly jump in prices paid to 51.3 from 44.5 prior (46.5 est).
- Modest react to MN Fed Kashkari stating "overtightening policy definitely a risk", but stressed undertightening to combat inflation is worse than overtightening. Kashkari leaning toward raisng terminal dot to 5.4%.
- Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday he sees the need for more rate increases amid high inflation and then likely holding them steady well into next year. "I think we will need to raise the federal funds rate to between 5 and 5.25% and leave it there until well into 2024," he said in prepared remarks.
- Yield curves bear steepened as 2s drew technical buying after TUM3 hit 101-20.62 low (101-22.38 last), 2YY hit 4.9014% -- highest since May 2007.
- STIR: Fed funds implied hikes off earlier highs: Mar'23 30.5bp vs. 31.9bp high, May'23 cumulative 57.6bp vs. 58.5bp (+2.4) to 5.154%, Jun'23 76.9bp (+2.4) to 5.347%, terminal at 5.465% in Oct'23 vs. 5.50% earlier high.
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.