MNI BRIEF: Fed's Goolsbee Sees Jobs Risk From Tight Policy

MNI BRIEF: Investors Saw BOC Cutting to 3% By Q3 2025

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, MAY -29,000

MNI China Daily Summary: Friday, August 2

MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 482; GAS RIGS 98

EZ/UK Bond Supply Calendar: BoE APF Operation on Monday

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Hitting new cycle lows again

BONDS
  • Core fixed income hit new cycle lows across the board again this morning (with TY, Bund, gilt and BTP futures all hitting multiyear lows). There have been no real headline drivers of the moves, but the moves have been partially reversed over the minutes leading up to writing. The initial trigger was probably spillover from a more hawkish-than-expected RBA, which raised rates by 25bp to 0.35% (rather than the 15bp hike that had been expected). Gilts have been the underperformers across the curve, but there appears no headline drivers behind this, either.
  • German and Eurozone unemployment data have come in largely in line with expectations while Eurozone PPI was a few tenths higher.
  • Probably the data higlight of the day will be US JOLTs, due for release at 15:00BST ahead of tomorrow's FOMC policy decision (which is widely expected to confirm a 50bp hike). We also have the final print of US durable goods and factory orders (both due at 13:30BST).
  • TY1 futures are down -0-23+ today at 118-13+ with 10y UST yields up 4.6bp at 2.983% and 2y yields up 4.4bp at 2.762%.
  • Bund futures are down -0.43 today at 153.16 with 10y Bund yields up 4.2bp at 0.979% and Schatz yields up 1.6bp at 0.269%.
  • Gilt futures are down -0.80 today at 117.64 with 10y yields up 9.0bp at 1.994% and 2y yields up 7.5bp at 1.654%.
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.