MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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

Holding Cheaper After Retail Sales and Broader Confluence Of Factors

US TSYS
  • Cash Tsys heading nearer the close with the 2Y +13bps after most of the action came early with retail sales. Even though the ex-autos & gas/control group beats were small, they were treated as at least ruling out consumers coming under the cosh following banking stresses and built on better-than-expected large bank earnings landing beforehand.
  • Moves were further stoked by hawkish commentary from the Fed’s Waller before a surprise jump in near-term U.Mich inflation expectations.
  • The front end drags the rest of the yield curve higher, with 10YY +7.5bps (real yields +5.5bps), whilst in futures space, TYM3 trades at 114-28+ (-18) off a post-retail low of 114-23 that stopped short of 114-18 (Apr 3 low).
  • Fed Funds: 20bp hike for May FOMC, a cumulative 24bp of hikes for Jun, mostly reversed by Sep and moving onto 35bp of cuts from current levels to year-end vs closer to 50bps yesterday.
BulletMarketsFixed Income BulletsHomepageEarnings Calendar Market News
BulletMarketsFixed Income BulletsHomepageEarnings Calendar Market News

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.